Spar Supermarket In Switzerland Starts Accepting Bitcoin

0 1 minute read

SPAR Supermarket in Zug, Switzerland Now Accepting Bitcoin Payments

SPAR has recently introduced Bitcoin payments at its store in Zug, Switzerland, showcasing the country’s progressive stance on cryptocurrency adoption. This innovative move utilizes the Lightning Network technology through DFX Swiss’s OpenCryptoPay solution, enabling swift and seamless transactions at the point of sale.

Zug, often referred to as “Crypto Valley,” is known for its forward-thinking approach to technology. Switzerland has emerged as a global leader in Bitcoin adoption, with cities like Zug and Lugano leading the way in integrating Bitcoin into everyday transactions.

Lugano, in particular, has gained attention for its “Plan ₿” initiative, which aims to establish Bitcoin as a widely accepted form of payment in the city. Supported by Mayor Michele Foletti, this initiative has already enabled Bitcoin payments for taxes, public services, and at numerous local businesses. Additionally, the city has partnered with Tether to establish a technology education center and startup fund.

“This SPAR location is one of the first supermarkets in Switzerland where customers can pay directly at the checkout using Bitcoin via LNURL,” announced DFX Swiss. This implementation could potentially pave the way for Bitcoin acceptance across SPAR’s extensive network of over 13,900 stores in 48 countries, serving millions of customers daily.

Rahim Taghizadegan, director of Bitcoin Association Switzerland, demonstrated the simplicity of the system: “Just scan a static QR code, send sats, and complete easy registration with the cashier.” This user-friendly approach aligns with Switzerland’s goal of making Bitcoin transactions accessible to the general public.

Switzerland’s favorable stance on Bitcoin has attracted numerous cryptocurrency companies and initiatives. In addition to Zug and Lugano, various cities in Switzerland are exploring similar programs, supported by a banking sector that is increasingly embracing Bitcoin.

SPAR’s decision to accept Bitcoin payments adds to the growing trend of Swiss retailers and businesses embracing cryptocurrency. This move has the potential to influence widespread adoption within the retail sector, especially considering Switzerland’s reputation as a trailblazer in integrating Bitcoin into traditional finance and commerce.