## Ferrari Embraces Cryptocurrency Payments in Europe

Following a successful launch in the U.S., Ferrari now allows cryptocurrency purchases in Europe. This marks a significant move for the luxury car manufacturer into the crypto space.

### Expansion into Europe

As of today, July 24, 2024, Ferrari has announced that European customers will soon be able to purchase their cars using cryptocurrencies. This new payment method, already popular in the U.S. since last year, will be available by the end of the month in countries where cryptocurrencies are legal.

### Company Statement

Ferrari explained this strategic move as a response to the evolving demands of their customer base. "After the positive reception of this alternative payment system in the United States, entering the European market is a natural step to support our dealers in meeting the evolving needs of our clients," the company stated.

### Cryptocurrency Details

While the specific cryptocurrencies that will be accepted have not been disclosed, Ferrari's U.S. operations partnered with Bitpay, a well-known payment service provider, to facilitate crypto transactions.

### Growing Trend in the Industry

Ferrari joins a growing list of major companies in the U.S. embracing cryptocurrency payments, including Ralph Lauren, The Red Cross, Adidas, Airbnb, Burger King, and IKEA. Although a comprehensive list for Europe is not available, commercial adoption, particularly in Switzerland, continues to progress.

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