More than 85,000 merchants already accept crypto payments in Switzerland

Over 85,000 Worldline merchants in Switzerland now have the ability to accept cryptocurrency payments.

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new partnership between Worldline and Bitcoin Suisse enables cryptocurrency payments for more than 85,000 merchants across Switzerland. For now, payments are limited to Bitcoin and Ethereum

.

Worldline is a French payment and transaction services provider, and Bitcoin Suisse is a crypto-financial services company. The news comes from a press release last Thursday that announced the new integrated service. WL Crypto Payments is the entity that provides Worldline merchants with this new capability.

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merchants working with Wordline must download the WL Crypto Payments app. Once this is done, any traditional outlets and e-commerce services offered by the merchants can start accepting cryptocurrencies.

According to the statement, this system is hedged against volatility risk. The cryptocurrency used for payment is converted to CHF once the transaction is confirmed. Companies have been testing the payment solution since 2019 before introducing the service.

Marc Schluep, MD of Worldline Switzerland, said the move reinforces Switzerland’s distinctive role in the cryptocurrency space. The country is home to more than 800 cryptocurrency-related companies. The CEO of Bitcoin Suisse called the collaboration a “historic milestone” for cryptocurrencies in Switzerland.

Switzerland – a cryptocurrency paradise

Switzerland has long been seen as a haven for the cryptocurrency industry. The country is home to many cryptocurrency startups. It is even known as “Crypto-Valley” – a clear reference to Silicon Valley.

The Swiss city of Zug, which is at the center of Crypto-Valley, recently took major steps in its cryptocurrency-friendly approach. Earlier this year, the canton announced

that it would accept BTC and ETH for tax payments.

Another major move in the Swiss cryptocurrency landscape comes from Sygnum bank. Last month, it became the first bank to offer staking EH 2.0. Also. This summer, both the French and Swiss national banks announced their CBDC trials

. They are focusing on the wholesale credit market.

The latest progress from Worldline and Bitcoin Suisse is in line with the progressive direction of cryptocurrency activity in the country.

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