Ferrari has declared that as of the end of July, its dealers in Europe will start to accept cryptocurrencies as payment. According to the Italian carmaker, the purpose of the action is to assist dealers in better meeting the changing needs of its customers.
The company said in a statement that it was developing its system in collaboration with a number of businesses involved in the cryptocurrency payment space. This system will enable dealers to take payments without having to handle cryptocurrencies directly because they will be instantly converted into fiat money.
It further stated that the technology will shield transactions from exchange rate-related price swings and enable the authentication of the funds’ origins.
After a successful introduction, the alternative payment method is now being implemented on the Continent.
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