Ferrari has already accepted cryptocurrency payments in the United States and plans to expand to Europe in the first quarter of next year.
Ferrari's Chief Marketing and Commercial Officer, Enrico Galliera, has announced that the company has started accepting cryptocurrency payments in the United States and plans to expand this payment option to Europe in the first quarter of next year, in response to customer demand.
According to the Zhongtong Finance APP, Enrico Galliera, Chief Marketing and Commercial Officer of Ferrari (RACE.US), announced that the company has started accepting cryptocurrency payments in the United States and plans to expand this payment option to Europe in the first quarter of next year, in response to customer demand.
It is reported that most blue-chip companies have avoided cryptocurrency due to its volatility, making it difficult to apply in business. Inadequate regulation and high energy consumption have also hindered cryptocurrency from becoming a widely accepted payment method. Tesla (TSLA.US) started accepting Bitcoin payments in 2021 but suspended this payment method later due to environmental concerns.
Enrico Galliera stated that cryptocurrency has been made more environmentally friendly by introducing new software and increasing the use of renewable energy. He said, "Our goal is to achieve carbon neutrality throughout the value chain by 2030, and this is absolutely certain."
Enrico Galliera added that this decision was made in response to market and dealer demands, as many customers have invested in cryptocurrency. He pointed out, "Some customers are young investors who have accumulated wealth through cryptocurrency. Others are more traditional investors who want to diversify their investment portfolios."
In the first half of this year, Ferrari delivered over 1,800 cars in the Americas, including the United States. Enrico Galliera did not disclose how many cars Ferrari plans to sell through cryptocurrency payments. He stated that Ferrari's orders are already fully booked until 2025, but the company wants to explore this expanding field, saying, "This will help us connect with people who may not necessarily be our customers but can afford a Ferrari."
Initially, Ferrari will use the cryptocurrency payment processing service provided by BitPay in the United States. BitPay will convert cryptocurrency payments into traditional currency on behalf of Ferrari dealers, protecting them from price fluctuations. BitPay will also ensure that the source of these cryptocurrencies is legitimate and not related to criminal activities, money laundering, or tax evasion.
Enrico Galliera mentioned that most US dealers have already signed or are about to agree to this plan. He said, "I believe that other dealers will join soon."