Tuesday, May 28

Ferrari Embraces Crypto: A Groundbreaking Move in Luxury Sports Car Industry

NY, 15th Oct 2023: Ferrari, the esteemed Italian luxury sports car manufacturer, has recently made a revolutionary decision to accept cryptocurrency as a form of payment. Initially introduced in the United States and soon to be extended to Europe, this move was prompted by dealers and individual clients who have made significant investments in the world of crypto.

Enrico Galliera, the Chief Marketing and Commercial Officer of Ferrari, expressed his enthusiasm for the company’s initiative to facilitate the purchase of their luxury vehicles through digital currencies. With a strong customer base already booked for the coming years, Galliera is optimistic about this bold plan, stating, “Our aim is to connect with individuals who may not currently be our clients but have the means to afford a Ferrari.” This highlights the growing influence of digital currencies among Ferrari’s clientele, as Galliera notes the presence of both young investors who have capitalized on cryptocurrency, and more traditional investors wanting to diversify their portfolios.

While numerous industry giants have chosen to distance themselves from accepting virtual currency payments due to market volatility and regulatory pressures, Ferrari has taken a pioneering stance. They firmly believe that new advancements in eco-friendly initiatives and renewable resources associated with cryptocurrencies can help reduce the carbon footprint. Galliera further emphasized this mission by confirming Ferrari’s commitment to achieving carbon neutrality by 2030 across their entire value chain.

Ferrari plans to launch its cryptocurrency payment system in Europe during the first quarter of 2024. Furthermore, the company intends to expand its acceptance of crypto payments to additional countries in the coming years. Galliera highlighted that the interest in this innovative approach is equally strong in both the United States and Europe, indicating a global shift towards embracing cryptocurrencies.

Ferrari’s decision to accept cryptocurrency as a means of payment represents a significant breakthrough in the luxury sports car industry. This bold move not only caters to the demands of crypto-invested customers, but it also showcases Ferrari’s commitment to sustainable practices. As the company propels towards achieving carbon neutrality and extends its crypto payment scheme worldwide, Ferrari continues to redefine the boundaries of luxury and innovation.