Spar has become the first supermarket in Switzerland to begin accepting Bitcoin (BTC), marking a significant milestone in the country’s progressive approach to digital asset adoption.
The announcement comes after Spar announced a partnership with DFX Swiss to enable Bitcoin transactions as a payment method.
Spar To Accept Bitcoin Payments
DFX Swiss announced the partnership on April 17 through a LinkedIn update, adding that the payment system will use the Bitcoin Lightning Network, enabling quick and low-cost transactions. The supermarket has started accepting Bitcoin payments at its store located in Zug, often called “Crypto Valley,” to reflect Switzerland’s growing acceptance and adoption of digital assets and their associated technologies. Switzerland is fast emerging as a global leader in crypto adoption, with cities like Zug and Lugano at the forefront of initiatives to integrate Bitcoin into everyday transactions.
Lugano, in particular, made headlines with its initiative to make Bitcoin a de facto legal tender in the city. The plan, supported by Mayor Michele Foletti, has enabled Bitcoin payments for taxes, public services, and hundreds of local merchants. The city has also announced a partnership with Tether to establish a technology education center and startup fund.
The payment system was listed on the BTC Map, a community-run project that tracks stores and businesses accepting Bitcoin. There are currently 1013 businesses in Switzerland accepting Bitcoin payments. DFX Swiss stated in a press release,
“This SPAR location is among the first supermarkets in Switzerland where you can pay directly at the checkout using Bitcoin via LNURL. The implementation could pave the way for expansion across SPAR’s network of over 13,900 stores in 48 countries, which serves approximately 14.7 million customers daily.”
Meanwhile, Bitcoin Association Switzerland Director Rahim Taghizadegan highlighted the system’s simplicity, stating,
“Just scan a static QR code, send sats, immediate and easy registration by the cashier. This user-friendly approach aligns with Switzerland’s vision of making Bitcoin transactions accessible to everyday consumers.”
Spar Joins Retailers Adopting Bitcoin
Switzerland’s Bitcoin-friendly stance has attracted several Bitcoin and crypto companies and initiatives. Besides Zug and Lugano, several cities are exploring similar programs, supported by a robust banking sector that has embraced Bitcoin and other digital assets. Spar builds on this foundation and joins other Swiss retailers in accepting Bitcoin payments. The move could also influence other companies in the retail sector to adopt Bitcoin and other digital assets.
Spar is one of the largest grocery chains in the world, with over 12,900 stores in 48 countries. The company serves over 14 million customers every day and employs 450,000 people.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice