10:40 AM EDT, 07/24/2024 (MT Newswires) -- Ferrari ( RACE ) said Wednesday that it will extend its cryptocurrency payment system to its network of European dealers from the end of July.

The move follows the system's launch in the US less than a year ago, the company added.

Ferrari ( RACE ) said that by the end of 2024, it will make this alternative payment system available to other countries that legally accept cryptocurrencies.

The goal is to enable dealers to accept payments without handling cryptocurrencies directly, as these will be converted immediately into traditional currency, the company said.

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