Switzerland's news in English

Editions:  Europe · Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland

Switzerland leads the way as Bitcoin makes a return

Share this article

Switzerland leads the way as Bitcoin makes a return
Photo: Peshkova/Depositphotos
11:23 CET+01:00
Switzerland is leading the world back into the use of Bitcoin for the purchase of goods and services, according to reports on Friday.

Bitcoin usage for transacting with merchants has slowed down significantly worldwide with the exception of Switzerland, whose biggest online retailer Digitec Galaxus AG has begun accepting cryptocurrencies this month.

“Cryptocurrencies are fascinating and likely to become a relevant means of payment in e-commerce – we want to support this development,” said Oliver Herren, CIO and co-founder of Digitec Galaxus in a statement.

Just two weeks after Digitec Galaxus AG announced its use of cryptocurrencies, Swiss Luxury hotel Dolder, Zug based House of Wines and Kessel Auto dealers followed suit.

The three Swiss retailers will receive crypto payments via a Swiss-based smartphone payments app called inapay. 

Cryptocurrency supporters are hoping the revival of Bitcoin in Switzerland and the positive response to inapay will increase the use of cryptocurrencies globally. 

According to Bitcoin news site, NewsBTC.com, “with inapay already garnering such support, and Switzerland being a supportive financial hub that's welcoming to crypto assets, merchant adoption should only increase further in the country from here on out, hopefully reviving crypto use as a payment technology throughout the rest of the world.” 

 

 
Get notified about breaking news on The Local

Share this article

The Local is not responsible for content posted by users.
Become a Member or sign-in to leave a comment.

From our sponsors

VIDEO: Three surprising facts that will make you want to visit Malta

Game of Thrones has ended but it lives on in Malta! Find out how and learn two more unexpected facts about this little archipelago in the middle of the Med.