According to Reuters, Italian sports car manufacturer Ferrari will expand its cryptocurrency payment service to its European dealer network by the end of July. The company began cooperating with BitPay in the United States in October last year to accept cryptocurrency payments, including Bitcoin, Ethereum, and USDC. Now, Ferrari has further expanded this service to Europe to support dealers in better meeting the ever-changing needs of customers. In addition, Reuters also cited the company's statement. Ferrari plans to further expand its services to dealers in other countries by the end of 2024.

Although cryptocurrency is very popular as an investment, it is still relatively rare for major companies to accept it as a payment method, mainly due to insufficient customer demand. Cryptocurrency investors may prefer to hold it rather than spend their tokens on daily shopping. However, luxury goods with long-term value, such as sports cars, may be an exception.

However, it is currently unclear which cryptocurrency payment service provider Ferrari will collaborate with in Europe to handle settlement work. In 2021, electric vehicle manufacturer Tesla also briefly accepted Bitcoin payments. However, due to environmental issues related to Bitcoin mining, CEO Musk subsequently suspended cryptocurrency payment options for purchasing cars.