Italian carmaker Ferrari has started accepting cryptocurrency payments for its sports cars in the US and will expand the scheme in Europe following requests from its wealthy customers, Ferrari’s chief marketing officer told Reuters on Saturday, according to Agerpres.

The vast majority of blue-chip companies have so far avoided payments in cryptocurrencies, as the increased volatility of Bitcoin and other digital tokens makes them impractical for trading. Poor regulation and the high energy consumption required to produce them have also hindered the spread of cryptocurrencies as a means of payment.

One example is US electric car maker Tesla, which in 2021 began accepting payments in bitcoin, the leading cryptocurrency, after CEO Elon Musk ended the scheme over concerns about its environmental impact.

However, Ferrari chief marketing officer Enrico Galliera told Reuters that the cryptocurrency is making efforts to reduce its carbon footprint by introducing new software and making greater use of renewable energy sources.

“Our goal to achieve carbon neutrality by 2030 along with our entire value chain is absolutely confirmed,” said Enrico Galliera.

According to him, the decision to accept payment in cryptocurrencies was made in response to market and dealer requests, given that many customers have invested in cryptocurrencies.

“Some young investors who have made fortunes in cryptocurrencies. Others are more traditional investors who want to diversify their portfolios,” Galliera added.

In the first half of this year, Ferrari delivered more than 1,800 cars to the Americas region, which includes the United States.

Galliera did not say how many cars Ferrari plans to sell using cryptocurrency payments, but emphasized that the order book is strong and fully covered until 2025, adding that the firm wanted to test this area of ​​expansion.

“It will help us to connect with people who are not necessarily our customers, but can afford a Ferrari,” said Galliera.

The Italian manufacturer, which sold 13,200 cars in 2022 at prices ranging from more than 200,000 euros to two million euros, is set to expand the cryptocurrency payment scheme to Europe in the first quarter of 2018. next year, and then in other regions where cryptocurrencies are accepted as legal tender.

Europe, the Middle East and Africa is the most important region for Ferrari, accounting for 46% of the total number of cars delivered in the first half of this year.

“The interest is the same in the US as in Europe, we don’t see much difference,” said Enrico Galliera.

The Marenello-based company has decided to use cryptocurrency payment processor BitPay for the initial phase of the scheme in the US and will allow transactions with Bitcoin, Ether and USDC without additional fees or charges.

Ferrari may use other payment processors in different regions.