This morning the tech media is abuzz with news that Swiss online giant Digitec Galaxus will accept Bitcoin, Ethereum, Ripple and a range of other cryptocurrencies including:
- Bitcoin Cash
- Bitcoin SV
- Binance coin
In conjunction with Swiss fintech company Datatrends and a crypto startup called Coinify, Digitec Galaxus is streamlining the use of coin currencies from crypto wallets to make purchases.
“According to ecommerce data platform ecommerceDB,” Adrian Zmudzinski explains in Cointelegraph today, “Digitec Galaxus’ net sales amounted to over $261 million in 2018 and the store, first launched in 2010, is the world’s 341st biggest online retailer.”
That’s a lot of business to expose to crypto payments, but the Swiss company does not seem fazed.
The move toward crypto, according to reports, is something that has been on Digitec Galxus’ wish list.
“Cryptocurrencies are fascinating and could become a relevant means of payment in e-commerce. We would like to support this development,” said Digitec co-founder Oliver Herren and Chief Innovation Officer according to a recent press release. “We wanted to do that for a long time, but the effort was too long for a long time.”
The service, Bitcoinist reports, will be rolled out to Swiss customers first, and eventually be available to others.
This new Swiss innovation is taking place in the greater context of national advancement in blockchain that’s getting noticed around the world.
The Swiss city of Zug is widely hailed as “Crypto Valley,” and residents can use Bitcoin to pay for a range of municipal services.
Retailers and government agencies in Switzerland and around the world are latching onto the concept of using decentralized blockchain cryptocurrencies to innovate in financial systems.
For now, though, Switzerland seems to be decisively in the lead.