Bitcoin In The Aisles: Swiss Supermarket Chain Welcomes Crypto Payments

Source Bitcoinist

One of Zug, Switzerland’s Spar supermarkets has begun accepting Bitcoin as a form of payment, following an increasing number of enterprises welcoming cryptocurrency for day-to-day purchases. The move is a big development for the global grocery chain with almost 14,000 stores spread around the globe and catering to nearly 15 million customers every day.

Swiss Outlet Breaks Ground With Bitcoin Payment Option

This supermarket outlet in Zug has recently been added to the BTC Map, a community-powered platform that monitors businesses across the globe that accept Bitcoin payments, as reported by DFX.swiss, a Switzerland-based cryptocurrency startup. The system supports payment through Bitcoin Lightning Network technology, and customers can make payments by merely scanning a QR code.

Rahim Taghizadegan, a bitcoin economist who is the leader of the Bitcoin Association Switzerland, was a guest at the shop and verified the system functions correctly. In a video posted on LinkedIn, he explained how clients can pay using the cryptocurrency.

Technical Solution Makes Transactions Quick

The payment system operates on the OpenCryptoPay protocol, created by DFX.swiss to support real-life crypto transactions. The system harnesses the peer-to-peer features of the Bitcoin Lightning Network, which accelerates transactions and makes them more feasible for use in retail outlets.

Switzerland has emerged as a hotbed of cryptocurrency acceptance, with more than 1,000 businesses accepting Bitcoin payments. The Swiss city of Lugano went as far as legalizing BTC and USDT as legal tender back in 2022, and lately, added a statue dedicated to the anonymous founder of Bitcoin, Satoshi Nakamoto.

 

Global Adoption Gaining Momentum

Although the Bitcoin payment option is now only offered at one Spar store, any rollout to the chain’s international network could have a massive impact on cryptocurrency usage in day-to-day shopping. Spar has an international presence in 48 countries, which means it has potential to bring millions of customers into contact with cryptocurrency payment.

This move continues an increasing pattern of Bitcoin uptake among retail businesses across the globe. Pick n Pay, which operates as one of South Africa’s largest food grocery chains, accepted digital currency as of 2022. Sports car maker Ferrari is also on board with taking cryptocurrency payments, exhibiting adoption through numerous market sectors.

Education Sector Also Embracing Cryptocurrency

According to last week’s reports, the trend is extending beyond retail and high-end merchandise. Lomond School in the United Kingdom revealed that it would accept tuition fees in BTC from autumn 2025, introducing cryptocurrency payments into education.

As institutions and more businesses incorporate cryptocurrency payments, customers could find crypto used as a standard choice to make payments instead of the traditional way. The Spar rollout in Switzerland might be a pilot for other markets within the grocery chain’s wide network.

The move by Spar to bring this payment mechanism to Switzerland reaffirms the welcoming attitude of this nation toward innovations in cryptocurrency. With the endorsement of a reputable global retailer like Spar, Bitcoin continues its transition from being fundamentally an investment currency to a practical currency for everyday shopping.”

Featured image from Inc. Magazine, chart from TradingView

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Australian Dollar appreciates amid rising concerns about Fed’s independenceThe Australian Dollar (AUD) extends its gains against the US Dollar (USD) on Tuesday.
Author  FXStreet
4 Month 22 Day Tue
The Australian Dollar (AUD) extends its gains against the US Dollar (USD) on Tuesday.
placeholder
Dogecoin lead double-digit gains across meme coins, with Shiba Inu, PEPE and BONK skyrocketing to new monthly highsTop meme coins Dogecoin (DOGE), Shiba Inu (SHIB), PEPE and BONK lead the meme coin sector with double-digit gains on Wednesday following the crypto market recovery.
Author  FXStreet
20 hours ago
Top meme coins Dogecoin (DOGE), Shiba Inu (SHIB), PEPE and BONK lead the meme coin sector with double-digit gains on Wednesday following the crypto market recovery.
placeholder
EUR/USD Price Forecast: Bounces off 1.1300 neighborhood; shows resilience below 23.6% Fibo.The EUR/USD pair attracts some follow-through selling for the second straight day on Wednesday and drops to a one-week low during the Asian session. Spot prices, however, rebound a few pips from the 1.1300 neighborhood and currently trade around the 1.1380 region, still down over 0.35% for the day.
Author  FXStreet
20 hours ago
The EUR/USD pair attracts some follow-through selling for the second straight day on Wednesday and drops to a one-week low during the Asian session. Spot prices, however, rebound a few pips from the 1.1300 neighborhood and currently trade around the 1.1380 region, still down over 0.35% for the day.
placeholder
Top 3 gainers Fartcoin, Zerebro, DeepBook: Solana and Sui meme coins soar on bold risk-on waveMeme coins led by Fartcoin, Zerebro and DeepBook (DEEP) are extending gains during the Asian session on Wednesday amid soaring investor risk appetite. Bitcoin (BTC) briefly crossed $93,000 the previous day alongside widespread rallies among altcoins.
Author  FXStreet
20 hours ago
Meme coins led by Fartcoin, Zerebro and DeepBook (DEEP) are extending gains during the Asian session on Wednesday amid soaring investor risk appetite. Bitcoin (BTC) briefly crossed $93,000 the previous day alongside widespread rallies among altcoins.
placeholder
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Bulls target $95,000 BTC, $1,900 ETH, and $3 XRPBitcoin (BTC) price hovers around $92,800 on Wednesday after rallying 9.75% over the past two days. Ethereum (ETH) and Ripple (XRP) followed BTC’s footsteps and continued their recovery rally. The technical outlook suggests an upward trend, targeting $95,000 BTC, $1,900 ETH, and $3 XRP.
Author  FXStreet
20 hours ago
Bitcoin (BTC) price hovers around $92,800 on Wednesday after rallying 9.75% over the past two days. Ethereum (ETH) and Ripple (XRP) followed BTC’s footsteps and continued their recovery rally. The technical outlook suggests an upward trend, targeting $95,000 BTC, $1,900 ETH, and $3 XRP.
goTop
quote