Market News

Swiss Supermarket Spar Gears Up to Accept Bitcoin Payments Nationwide

Spar supermarkets in Switzerland are set to launch Bitcoin payments across their locations following successful trials in Zug and Kreuzlingen.

The initiative, powered by DFX Swiss, enables customers to make transactions using Bitcoin via the Lightning Network through the OpenCryptoPay platform.

This marks a significant development as Spar aims to be one of the first major supermarket chains in Switzerland to implement direct Bitcoin payments at a large scale.

The first pilot store in Zug tested the system earlier this month, and the enthusiastic response has prompted plans for nationwide rollout.

According to Rahim Taghizadegan from the Bitcoin Association Switzerland, the payment process is straightforward, involving scanning a QR code and sending Bitcoin effortlessly.

This move underscores the growing acceptance of cryptocurrency in Switzerland, sparking discussions about Bitcoin's role in the national economy.

Despite a cautious stance from the Swiss National Bank regarding Bitcoin's volatility, a citizen initiative may soon push for Bitcoin to be included in the country's official reserve.

As of now, more than 600 businesses in Switzerland already accept Bitcoin, contributing to the nation's reputation as a burgeoning "crypto nation."

Municipalities like Zug and Lugano have been at the forefront, accepting Bitcoin for public services since 2020 and 2022, respectively.

Spar's expansion into Bitcoin payments not only reflects this trend but also enhances the accessibility of cryptocurrencies to everyday consumers.