Ital Auto Singapore, the official Ferrari importer for Singapore, has announced that it will now accept cryptocurrency payments.
This strategic shift is made possible through a partnership between Ital Auto and a licensed digital assets firm, Triple-A, ensuring transactions remain secure, seamless, and free from volatility risks.
For luxury car buyers seeking an alternative to traditional banking means, this new payment method offers a host of advantages. With instant currency conversion and bank settlements, clients can now pay in cryptocurrency without worrying about fluctuating exchange rates.
“As digital currencies reach mass adoption, we recognise the need to offer our clients a secure and viable alternative to traditional payment methods. Through this partnership, Ital Auto can now conduct transactions that are trusted, seamless, and free from price fluctuations.”
Nicholas Syn, Director of Ital Auto Pte Ltd
The system locks in a fixed rate at the time of purchase, eliminating price swings and ensuring a smooth transaction process. Additionally, lower transaction fees compared to conventional methods make this an attractive option for high-value purchases.
For those who are still skeptical about the whole process, the digital asset firm facilitating this service is licensed by the Monetary Authority of Singapore (MAS) and registered with the United States Financial Crimes Enforcement Network.
“Many people have accumulated wealth in digital assets and are looking for ways to spend it. We’re pleased to partner with Ital Auto to offer Ferrari customers a secure, simple, and efficient way to pay with cryptocurrency.”
Mr Eric Barbier, CEO of Triple-A
As cryptocurrency continues to gain mainstream traction, Ferrari enthusiasts in Singapore now have a new payment option to complement their pursuit of automotive excellence.
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