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Investing.com -- Ferrari NV (NYSE:RACE) stock rose 2% by Friday’s close after the luxury sports car manufacturer announced a multi-year partnership agreement with cryptocurrency exchange BingX.
The Italian automaker revealed that its wholly-owned subsidiary, Ferrari S.p.A., has signed a deal with BingX, a leading crypto exchange and Web3 company. According to the announcement, the partnership will take effect on January 1, 2026, with BingX becoming a Team Partner of Scuderia Ferrari HP.
The agreement represents Ferrari’s entry into the cryptocurrency space through a formal partnership with an established exchange. While specific financial terms were not disclosed, the multi-year nature of the deal suggests a significant commitment from both parties.
The partnership with BingX may signal Ferrari’s interest in exploring blockchain and cryptocurrency technologies as potential areas for future innovation or revenue streams.
The luxury automaker, known for its high-performance vehicles and Formula 1 racing team, continues to expand its brand partnerships beyond traditional automotive sectors.
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