Forza Bitcoin! Ferrari to expand US crypto payment scheme to Europe

LUXURY sports car manufacturer Ferrari has said it will begin accepting cryptocurrency payments throughout Europe by the end of the month.

The Maranello-based brand began a crypto payment scheme in the US last year, and expects to make it available to the rest of the world later this year.

Ferrari, which was founded in 1939 by former racing driver Enzo Ferrari and quickly became synonymous with opulence, said the move was in response to many requests by customers who had made their personal fortunes dealing in digital assets.

"The entry into the European market follows the successful launch of this alternative payment system in the United States less than a year ago, to support dealers in better addressing the evolving needs of its clients," a company spokesperson said.

A statement also revealed most dealerships in Europe already have the capacity to accept cryptocurrency transactions, with the remainder expected to adopt the payment system in the coming days.

It stressed the payment method would not be available in China.

Launched through BitPay, the scheme will initially allow transactions in Bitcoin, Ethereum and USDC. It is anticipated further digital assets will be accepted next year.