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Ferrari is entering the crypto market with plans to launch a new digital token aimed at tech-savvy younger investors.
The token will allow the brand's most affluent clients to bid for a Ferrari 499P, the endurance car that claimed three consecutive Le Mans titles, according to Reuters.
The initiative, developed with Italian fintech firm Conio, is designed for members of Ferrari's Hyperclub, an exclusive group of around 100 clients with a passion for endurance racing, who will be able to trade the 'Token Ferrari 499P' and use it to participate in the auction.
The token is expected to debut alongside the 2027 World Endurance Championship season.
"This is about strengthening the sense of belonging among our most loyal customers,"
said Enrico Galliera, Ferrari's Chief Marketing and Commercial Officer.
The move follows Ferrari's 2023 decision to accept Bitcoin, Ethereum and USDC for car purchases in the US, a service extended to Europe last year.
Conio, which is applying for a license under the EU's new crypto regulations, sees significant potential in the partnership.