Over 85,000 Worldline merchants in Switzerland now have capabilities to accept payments in crypto.
A new collaboration between Worldline and Bitcoin Suisse enables crypto payments for over 85,000 across Switzerland. For now, payments are limited to bitcoin and ether.
Worldline is a French payment and transactional service provider and Bitcoin Suisse a crypto-financial services firm. The news came from a press release last Thursday, which announced the new integrated service. WL Crypto Payments is the vessel, which provides Worldline merchants with this new capability.
Merchants aligned with Wordline need to download the WL Crypto Payments app. Once completed, any traditional point-of-sale and e-commerce services from merchants can start accepting crypto.
According to the statement, this system is safe from volatility risks. The cryptocurrency used for payment converts into CHF after payment confirmation. The companies tested the payment solution in 2019, prior to the recent roll-out.
Marc Schluep, the MD of Worldline Switzerland, said this move reinforces Switzerland’s prominent role in the crypto space. The country is home to more than 800 crypto-related companies. The CEO of Bitcoin Suisse called the collaboration a “historic milestone” for crypto in Switzerland.
The Crypto Haven
Switzerland is long understood as a haven for the crypto industry. Switzerland is home to a host of crypto-start ups, it’s even known as “Crypto-Valley” – which counters Silicon Valley.
The Swiss city of Zug, which is at the center of Crypto-Valley recently took major steps in their crypto-friendly approach. Early this year the canton announced it would accept bitcoin and ether for tax related-payment.
Another major move in the Swiss crypto-landscape comes from the bank Sygnum. Last month, it became the first bank to offer EH 2.0 staking. In addition. This summer both the French and Swiss national bank’s announced their trials of CBDCs. The focus of these CBDCs are on the wholesale lending market.
The latest development from Worldline and Bitcoin Suisse falls in line with the country’s crypto-progressive course of action.