Analysis Crypto by Thebittimes.Com

The luxury carmaker partners with BitPay to facilitate cryptocurrency transactions. Ferrari is responding to growing customer demand and dealer requests. The luxury car maker will start by accepting crypto payments in the US and later Europe. In some interesting crypto news, Ferrari, the iconic luxury sports car manufacturer, has officially announced its plans to accept cryptocurrency payments for its high-end vehicles in the United States. This groundbreaking decision, spurred by increasing customer demand and the rise of digital currency investments, represents a significant shift in the automotive industry. Here’s what you need to know: Crypto payments for iconic Ferraris Ferrari’s chief marketing and commercial officer, Enrico Galliera, has confirmed the brand’s intention to accept crypto currency payments in the US and later in Europe. This move was primarily driven by a surge in market demand and repeated requests from their dealers...

The two companies have not disclosed the acquisition price. Bitwave completed a $15 million Series A investment round in December 2022. Gilded has over 130 enterprise clients, including mining companies. Bitwave has bought the payments and accounting platform Gilded. The acquisition is anticipated to improve Bitwave’s enterprise solutions, which already include features for crypto payments and invoicing as well as tax tracking and bookkeeping software. Ken Gaulter, chief technology officer of Gilded, will also join Bitwave’s technical team as a result of the acquisition. Only a few months had passed since Bitwave purchased Multisig Media before this acquisition. In a note to a popular media house, Pat White, Bitwave’s co-founder and CEO, said: “We see digital asset payments as faster as and cheaper than traditional payment rails— and in this hyperconnected economy, we expect that to be a game changer for businesses.” G...

Cross-border payments. Anyone who has ever tried sending or receiving an international wire transfer knows the pain of the process all too well. It can take days to resolve, can’t be tracked, and often costs up to $50 for what should be a simple transaction from one country to another. When the word “blockchain” first entered the mainstream vernacular years ago, one dominant narrative was that it would solve the daunting problem. As much as it’s a useful application of blockchain tech, it is kind of boring, Jason Yanowitz admits on the Bell Curve podcast (Spotify/Apple). Competing phenomena like DeFi and NFTs took over the scene for a period of time, leaving the more practical but less engaging topic to fade into the background. But that doesn’t mean people haven’t been working on it in the meantime. SAP, an enterprise software company that powers the underlying payment structure of a range of Fortune 500 and Fortune 1000 companies, has been working on a blockchain solution t...