Updated 25 Aug, 2021

More Than 85,000 Swiss Merchants Now Accept Bitcoin



Key Takeaways:

  • A collaboration between Bitcoin Suisse and Worldline will offer crypto payments to businesses
  • The service will be available to more than 85,000 merchants, part of Worldline’s Swiss network

Crypto Payments Available to Over 85,000 Swiss Merchants

In signs of fast-paced cryptocurrency adoption by traditional businesses, crypto-financial service provider Bitcoin Suisse has teamed up with Worldline, a payments company based in Europe. The two announced they are launching a service that would allow Swiss companies, part of Worldline’s network, to accept major cryptocurrencies.

More than 85,000 merchants in Switzerland are now enabled to offer their customers the option to pay with bitcoin (BTC) or ether (ETH) for the purchase of goods from their stores.

The integration between the Zug-based Bitcoin Suisse and Worldline marks a big step toward making cryptocurrency payments become widely available for merchants and their customers.

“The integrated service offered by Worldline and Bitcoin Suisse, named WL Crypto Payments, lets merchants accept Bitcoin and Ether as a payment option at the point-of-sale (POS) and in e-commerce,” a press release by Bitcoin Suisse said.

“Clients paying with crypto may do so through their usual mobile crypto wallet application. Prices shown by the merchant in CHF, can be, upon selection by the customer, alternatively quoted in Bitcoin or Ether in real time, paid for with crypto, and get confirmed to the merchant instantly,” the note explains.

The Service Propels Cryptocurrencies into Mainstream Finance

The collaboration between Bitcoin Suisse and Worldline was first announced in late 2019. Prior to the official launch last week, the service has successfully passed a pilot program.

Bitcoin Suisse CEO Arthur Vayloyan praised the achievement by saying it was a “historic moment for crypto adoption in Switzerland and beyond.” He also adds that this step “proves once again that Switzerland is a leader in collaborative innovation and a pioneer in the crypto and blockchain industry.”

In Switzerland, the crypto-adoption curve has been accelerating this year. Swiss-based wealth manager UBS earlier this year began exploring the crypto space with the intention to offer crypto investments to its wealthy clients.

UBS CEO Ralph Hamers even said in a recent interview, that when it came to bitcoin, the bank’s clients were experiencing the so-called fomo, short for fear of missing out.

Moreover, the Swiss stock exchange SIX announced in March it was preparing to launch its digital exchange platform that would offer digital assets. These include bitcoin, readily available for trading.

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