Providers and Administrators in blue logo
MenuMENU
SearchSEARCH

Italian Carmaker Accepts Cryptocurrecies

Ferrari adds option in the US and plans to in Europe, other areas where the alternative funds can be used.

October 16, 2023
Italian Carmaker Accepts Cryptocurrecies

The payment processor Ferrari is using in the U.S. will convert the payments into traditional currency for dealers, shielding them from crypto price swings.

IMAGE: Pexels/Alexander 99

1 min to read


Ferrari is accepting cryptocurrency as payment for its models in the U.S. market and plans to start offering that option in Europe, according to a Reuters report.

Cryptocurrency hasn’t gained wide acceptance due to digital currencies’ volatility, inconsistent regulation of them, and the high energy consumption needed to power the computers behind the currencies, the news agency pointed out.

Ad Loading...

Some Ferrari customers have requested the option to use it in their vehicle purchases, though, and Ferrari has granted what may be a first in the auto retail industry. After it introduces the payment option in Europe, it plans to expand it to other regions where cryptocurrencies can be accepted by law, Reuters said.

The concession accommodates a wealthy clientele who can afford sticker prices ranging up to more than $2 million. Ferrari won’t charge an additional fee for payments in cryptocurrencies.

The luxury automaker’s marketing head told Reuters that most of its U.S. dealers have arranged to accept the payments or are close to doing so and that he’s “confident” the remaining ones will follow.

Reuters indicated the payment processor Ferrari is using in the U.S., BitPay, will convert the payments into traditional currency for dealers, shielding them from crypto price swings.

LEARN MORE: CarNow and Cion Digital Partner to Provide Consumers Option to Purchase and Finance Cars With Crypto

Originally posted on Auto Dealer Today

More Industry

two people working on a paper contract together
IndustryMay 1, 2026

Driving into the Super CFC Era

Understanding the risks and benefits of retail accounting and Super CFCs can help you better present options to your dealer partners.

Read More →
Photo of outdoor electric-vehicle charger
Industryby Hannah MitchellApril 28, 2026

Global Roads Getting More Electric

China easily reigns in the segment, but European countries’ adoption rates are growing. The U.S., probably due to market size, has the second biggest EV fleet.

Read More →
Graphic of wholesale weekly price index
Industryby StaffApril 28, 2026

Black Book: Weekly Market Update

The full-size pickup segment, which has been dominant in the U.S., ended 11 consecutive weeks of gains with a slight dip last week.

Read More →
Ad Loading...
Line graphic showing week-over-week wholesale auto price changes
Industryby StaffApril 22, 2026

Black Book: Weekly Market Update

Wholesale auto conversion rates dropped slightly as auction buyers proved picky last week, analysts observed.

Read More →
pavement with car and charger wrapped around it painted on

EV Battery Cycle Life at Risk

Fast charging of electric vehicles provides a solution for range anxiety, but it also poses a risk to battery cycle life due to increased temperatures, according to an EV supply chain data provider.

Read More →
Photo of exterior facade of Beardmore Chevrolet store
Industryby Hannah MitchellApril 14, 2026

Founding Family Sells Nebraska Dealerships

Expanding Midwest automotive group picks up three stores as part of the robust transaction activity early this year.

Read More →
Ad Loading...
Photo of white 2026 Ford Bronco on a sandy beach
Industryby Hannah MitchellApril 10, 2026

March New-Vehicle Sales Don’t Reflect War

Cox Automotive data shows Americans doubled down on big-is-better despite price increases. Slightly higher incentives helped fuel the demand.

Read More →
Photo from the rear of the XC60 SUV
IndustryApril 8, 2026

Volvo to Shift Some EV Production to U.S.

The automaker says its movement of some electric-vehicle work to the S.C. factory is part of a more tailored product focus. It also plans to add a new hybrid model to the plant’s itinerary.

Read More →
Bar graphic depicting week-over-week change across the various vehicle segments
Industryby StaffApril 7, 2026

Black Book: Weekly Market Update

Last week's wholesale automotive auction activity continued in a healthy mode, though buyers practiced selectivity.

Read More →
Ad Loading...
red car at a gas station being filled with gas. Efficiency Drives Demand. Providers and Administrators logo
Industryby Lauren LawrenceApril 7, 2026

Gas Prices Driving Consumer Interest

CarGurus’ first quarterly review of 2026 shows that affordability concerns are continuing to drive consumer purchases with a shift to more fuel-efficient options.

Read More →