SG's Official Ferrari Importer now accepts cryptocurrency

Ital Auto Singapore Pte Ltd, the Official Ferrari Importer for Singapore, has announced that it will start accepting cryptocurrency as payment through a partnership with Triple-A, a digital assets firm.

In 2021, Triple-A became the first payment institution in Singapore to be granted a Digital Payment Token licence by the MAS, Singapore's central bank. It is also registered with the United States Financial Crimes Enforcement Network.

This dealership will now be able to convert cryptocurrency instantly into dollars with instant bank settlements. Furthermore, a locked-in exchange rate with no volatility risk and instant confirmation ensures the payment can proceed in a safe and secure manner.

As digital currencies are reaching mass adoption, Ital Auto has said that through this partnership, it can now conduct user-friendly transactions that are trusted, seamless, and secure without exposure to price fluctuations.