FERRARI EUROPEAN DEALERS TO ACCEPT CRYPTOCURRENCY PAYMENTS
On Wednesday, Italian luxury carmaker Ferrari said its European dealers will start accepting cryptocurrency, following a similar move in the United States.
The new payment system, which includes verification of the source of the funds and immediate conversion of the payments into traditional currency, will be rolled out by the end of July, it said.
“By the end of 2024, Ferrari will expand cryptocurrency transactions to other countries in its international dealer network, where cryptocurrencies are legally accepted.”
WORLD NEWS: RUTO UNVEILS CABINET LINEUP WITH FOUR OPPOSITION FIGURES
Cryptocurrencies, the most famous of which is bitcoin, are a type of digital currency that, unlike traditional currencies, is not controlled by centralized financial institutions.
Advocates say this brings financial freedom but cryptocurrencies can be very volatile. Bitcoin has also been accused of being the currency of choice for illegal payments that leave no trace.
Billionaire Elon Musk declared in 2021 that he would sell Tesla cars for bitcoins before changing his mind, arguing that its production was too polluting and that he would only accept it when it was less polluting.
More Stories
LATE OHANEZE NDIGBO PRESIDENT, IWUANYANWU TO BE BURIED NOV 1
Chief Emmanuel Iwuanyanwu, an elder statesman and President General of Ohanaeze Ndigbo Worldwide, will be buried on November 1. Senator...
PSC DEPLOYS STAFF TO MONITOR POLICE CONDUCT DURING EDO GUBER POLL
The Police Service Commission (PSC) has deployed personnel to monitor police officers' conduct during Saturday's governorship elections in Edo State....
COUNTERFEIT: NAFDAC DESTROYS SUBSTANDARD PRODUCTS, OTHERS WORTH N43 BILLION IN OYO
On Thursday, September 19, the National Agency for Food and Drug Administration and Control (NAFDAC) destroyed substandard products worth N43...
ENVIRONMENTAL INFRACTIONS: KWARA SEALS 14 BUILDINGS
According to Hajia Nafisat Musa-Buge, the state's commissioner for the environment, the Kwara government has sealed off 14 properties in...
UPDATE: SHETTIMA TO REPRESENT TINUBU IN NEW YORK FOR 79TH UNGA
President Bola Tinubu will not attend this year's 79th session of the United Nations General Assembly in New York. The...
OYO GOVT, EIDU TARGET 2030 SDGs FOR EDUCATION
The Oyo State government has reiterated its commitment, with collaboration from all stakeholders in the basic education sub-sector to achieve...