The plan follows Ferrari accepting Bitcoin, Ethereum and USDC for car purchases in US and Europe
[MILAN] Ferrari is tapping into crypto markets and tech-rich youngsters with a planned new digital token that its wealthiest fans will be able to apply in an auction for a Ferrari 499P, the finishurance car that won three straight Le Mans titles.
The plan for now is limited in scope and is an effort by the Italian sports car creater to tap into a trfinish among luxury brands seeking access to the growing wealth of younger tech entrepreneurs, as AI and data centres drive investment and markets around the world.
It comes after Ferrari, which is also developing its first electric car, launched accepting Bitcoin, ethereum and USDC for car purchases in the US in 2023 and extfinished the service to Europe last year.
Ferrari is working with Italian fintech Conio to launch the ‘Token Ferrari 499P’ for members of its Hyperclub – which groups 100 of its most exclusive clients, with a passion for finishurance races – to trade amongst themselves and bid on the racing model.
It is set to debut with the start of the 2027 World Endurance Championship season.
“This is about strengthening the sense of belonging among our most loyal customers,” chief marketing and commercial officer Enrico Galliera informed Reuters.
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With prominent backers including US President Donald Trump, crypto prices have surged, but regulators warn loose oversight and speculative trading creates risks for investors and financial stability. Bitcoin is up 60 per cent in the last year.
The token will still take time to become a reality. Conio is applying for a licence under the European Union’s new crypto regulation, but sees room for growth.
“The potential for development is enormous,” stated Conio’s chief fintech strategist and project architect Davide Rallo. REUTERS
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