Ferrari's Innovative Step in the Crypto World

Ferrari (NYSE:RACE) is rapidly entering the cryptocurrency market to attract young technology entrepreneurs. The Italian fintech company Conio plans to launch a digital token named Token Ferrari 499P.

This special digital token will be offered exclusively to 100 individuals who are members of Ferrari's Hyperclub. The related launch is expected to take place at the beginning of the 2027 World Endurance Championship season.

Hyperclub members will not only have the right to trade this token among themselves but will also be able to use it in an auction for a real Ferrari 499P. This endurance car has the title of winning the Le Mans race three years in a row.

Ferrari Marketing and Commercial Director Enrico Galliera stated, “This is about strengthening the sense of belonging among our most loyal customers.” However, Conio must obtain regulatory approval from the European Union before launching the token.

Conio’s Product Development Strategist Davide Rallo expressed his belief in the project by stating, "The growth potential is very large."

Conio previously collaborated with the U.S.-based Mesh to provide Italian citizens access to exchanges such as Binance and Coinbase. Additionally, it has been reported that a similar collaboration was carried out with an Italian solar energy company this year.

Ferrari began accepting Bitcoin and other digital assets as payment for its vehicles for the first time in 2023. Last year, it launched a similar initiative in Europe.