Ferrari Can Now Be Purchased with Bitcoin, XRP, and Other Cryptocurrencies

Europeans can now buy luxury Ferrari cars using Bitcoin, XRP, and other popular cryptocurrencies.

Thanks to Ferrari’s partnership with payment service BitPay, Americans have been able to purchase cars with BTC, Ethereum, and the USD Coin (USDC) stablecoin since October 2023. However, in Europe, accepting digital assets from customers only became possible this week due to the growing popularity of virtual currencies.

“Ferrari customers can now purchase our cars using an additional payment method [cryptocurrency], but Ferrari will receive the money in traditional currencies instead of digital assets. The geography of virtual currency use will expand to include countries where they are legal,” the company’s press release states.

At least one European has already purchased a Ferrari F40 with cryptocurrency. He paid Belgian dealer Oldtimerfarm €2.5 million in Bitcoin and Ethereum. The coins were converted into euros via the zondacrypto service and transferred to the seller, allowing him to avoid risks associated with cryptocurrency price volatility.

“My client wanted to buy this car he had dreamed of since childhood, and cryptocurrency made it possible. Traditional banks are slow, while digital assets make everything much easier. I just clicked a button, and that was it. Even with large sums, there are no problems — everything is safe and transparent. I believe the future belongs to cryptocurrencies,” commented Oldtimerfarm owner Javier on the deal.

See also: "Hong Kong Introduces Mandatory Identification for Stablecoin Holders"

#Crypto Regulations

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