Switzerland has long been known as one of the few countries preferred by crypto and blockchain businesses, and its ‘Crypto Valley’ is known throughout the world. However, the country did not adopt cryptocurrencies so far, despite being crypto-friendlier than most.
This might change soon, thanks to one of its crypto brokers, Bitcoin Suisse. According to recent reports, the broker has partnered up with a company called Worldline, which is a European payment and transaction service. The goal of the partnership is to boost crypto payment acceptance within Switzerland. The pair has already signed a letter of intent, as reported on November 11th, and the move represents the first step towards bringing crypto payments to 65,000 Swiss retailers.
Crypto adoption in Switzerland
The retailers that will be able to accept crypto payments include all those who use Worldline’s payment infrastructure, better known as SIX Payment Service. Thanks to the partnership with Bitcoin Suisse, the system will receive crypto payment capabilities, and it will allow online and offline stores to accept cryptocurrencies as a legitimate payment method.
Worldline’s CEO, Marc Schluep, commented on the move by saying that merchants will be able to benefit from accepting the new asset class without being exposed to any risks. The companies also stated that the new service will be very easy to use, intuitive and that both merchants and consumers should have no trouble using it.
Merchants will also be able to receive payouts in Swiss francs, as well as euros. Furthermore, while Switzerland will be the first to benefit from accepting cryptocurrency payments, Worldline is already a Europe-wide service, and it has an end goal of bringing crypto payments across the continent.
The Swiss get their first crypto bank
Another recent report which is likely to have a positive effect on the crypto industry in Switzerland includes the country’s crypto bank, known as SEBA. According to reports, the bank managed to obtain the banking and securities dealer license from the Swiss regulator. This single move will allow professional investors, and even corporations based in Switzerland to make use of the first-ever crypto bank’s services.