Switzerland has been the hub of crypto debates and regulations, and it is proving its status as the world’s largest crypto supporter. Recently, one of its five-star hotels the Dolder Grand said that it would start accepting cryptocurrency as a mode of payment. On Tuesday, Inacta AG, which is the tech partner of the hotel, declared that it would roll out the option for Bitcoin payment in the hotel.
This implies that guests will be able to buy food, do shopping and order drinks with the cryptocurrency. Intacta AG would be designing a mobile crypto app, which will be converting the cryptocurrency into Swiss Francs or Euros; this means, the hotel will not be dealing with cryptocurrency payments directly.
The director of the hotel said that it has been proactive in accepting cryptocurrency as a mode of payment to make it easier for the customers to pay. It is also being used to pay for the other services in the hotel.
The extent of the crypto acceptance in Switzerland is to such an extent that the largest Swiss stock exchange SIX launched another crypto-based exchange-traded product called the ETP. It was launched in collaboration with Amun AG startup. In fact, this was the fourth crypto-based product established by the firm. The exchange trade is now functioning under the ticker AXRP after being linked to XRP.
The crypto basket index or the HODL was also launched by the same Swiss exchange. Next in line was the Bitcoin ETP or ABTC, followed by AETH, which is used to track the price of ETH. It must be mentioned here that all of them are trading on SIX now.
Switzerland also chooses to get paid in Bitcoin.
In a recent news update, it was said that a renowned media company Netzmedien AG offered its employees to be paid in cryptocurrency, based on a poll conducted among the employees. All of them agreed to be paid in Bitcoin. The company had given them the option of getting paid in cryptocurrency or fiat money. It is now planning to expand the option of payment and include other digital currencies to give its employees options to choose from.
These steps seem to be a ray of hope for the cryptocurrency industry, which is struggling to build its reputation after the numerous scams and cyber crimes that tainted it. It is also fighting its own battle with the crypto winter, the effects of which are yet to subside.