Ferrari(US:RACE) Benzingaยท2025-10-27 08:46Core Insights - Ferrari N.V. is planning to launch a new cryptocurrency called 'Token Ferrari 499P' for auctioning the Ferrari 499P endurance car, which has won three consecutive Le Mans titles [1][2] - The token is being developed in partnership with fintech company Conio and will be exclusively available to 100 elite members of the Hyperclub [2] - The launch is expected to coincide with the start of the 2027 World Endurance Championship season, pending regulatory approval from the European Union [3] Company Initiatives - The initiative reflects Ferrari's strategy to engage with young tech entrepreneurs and adapt to the growing trend among luxury brands in the cryptocurrency space [2] - Ferrari has previously engaged in cryptocurrency by extending its payment options to include Bitcoin, Ethereum, and USDC in European dealerships after a successful U.S. launch [4] - The company has partnered with BitPay for cryptocurrency payment processing in its U.S. operations [4] Market Reaction - Following the announcement, Ferrari shares rose by 0.66% in pre-market trading after a 1.36% increase to $408.31 during the previous trading session [5]