The legendary luxury car brand Ferrari has confirmed intentions to begin accepting cryptocurrencies such as XRP, Bitcoin, and Shiba Inu in exchange for luxury cars.

According to a statement from Ferrari’s top executive, the firm Ferrari has embarked on a new expansion move. Specifically, the venture would see Ferrari accept cryptocurrency as payment for its luxury sports cars in the United States. 

Ferrari’s Chief Marketing and Commercial Officer (CMO), Enrico Galliera, confirmed the strategic move during an interview with Reuters. The executive noted that Ferrari plans to expand the offering to Europe in response to requests from their affluent clientele. 

Ferrari Accepting XRP and Shiba Inu

According to Galliera, Ferrari’s decision to accept cryptocurrency came amid market demand and the requests of dealers, many of whom have clients heavily invested in cryptocurrencies. The Ferrari marketing officer noted that the clients encompassed a broad spectrum, from younger to more traditional investors.

“Some are young investors who have built their fortunes around cryptocurrencies. Some others are more traditional investors who want to diversify their portfolios,” Galliera remarked.

Notably, the Ferrari marketing executive did not explicitly mention a target crypto the firm will exchange for luxury cars. It implies the firm is open to accepting prominent and top-ranked cryptocurrencies such as XRP, Shiba Inu, Bitcoin, and Ethereum.

Moreover, Ferrari has partnered with BitPay, one of the leading crypto payment processors, to facilitate car payment transactions with XRP, Shiba Inu, Bitcoin, Ethereum, and significant stablecoins.

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Also, the Ferrari marketing executive stated no price adjustments, fees, or surcharges for customers opting to pay with cryptocurrencies.

Meanwhile, Ferrari’s chief marketer did not specify the number of cars they anticipate selling through cryptocurrency. Yet, Galliera mentioned that the order portfolio is robust and booked well into 2025. Emphatically, Ferrari views accepting crypto as a means to connect with potential customers who may not have considered owning a Ferrari otherwise.

“This will help us connect to people who are not necessarily our clients but might afford a Ferrari,” Galliera remarked.