You can now buy a Ferrari with Bitcoin. The Italian luxury automaker has rolled out cryptocurrency payments across its US and European dealer networks, partnering with BitPay to process transactions in BTC, ETH, USDC, and XRP.

How the payments actually work

Ferrari’s setup with BitPay converts crypto payments into fiat currency instantly. The moment a buyer sends their Bitcoin or Ether, BitPay locks in the exchange rate and delivers a fixed amount in local currency to the dealer. No price swings between the time the transaction initiates and the time it settles.

Customers paying with digital assets don’t face any additional fees for using the service. The price tag is the price tag, whether you’re wiring…