Ferrari, a renowned luxury sports car manufacturer, is now accepting digital currency payments for its vehicles in the U.S., with plans to expand the service to Europe. According to Reuters, this decision comes as most prominent companies hesitate to accept cryptocurrency due to its volatility and regulatory complexities.

Enrico Galliera, Ferrari’s Chief Marketing and Commercial Officer, has expressed his commitment to carbon neutrality by 2030, and sees potential in cryptocurrency’s efforts to minimize its carbon footprint and increase reliance on renewable sources. The company’s client base is diverse, from young investors who amassed their wealth in cryptocurrencies to more traditional investors seeking diversification.

Given the company’s strong order portfolio, Ferrari has partnered with BitPay, one of the largest cryptocurrency payment processors, for its initial U.S. operations. Crypto payments will be accepted in Bitcoin, Ether, and USDC, a leading stablecoin, which BitPay will immediately convert into traditional currency, safeguarding dealers against price volatility.

The initiative also ensures the legitimacy of the virtual currencies, preventing their use in criminal activities or tax evasion. Most U.S. dealers are already on board with the scheme, and Galliera is confident that others will join soon.

Ferrari’s acceptance of cryptocurrency demonstrates its increasing influence and acceptance in various sectors. As companies continue to explore this expanding realm, the evolution of the relationship between cryptocurrencies and traditional economic sectors will be interesting to observe.