Swiss Supermarkets Embrace Cryptocurrency Payments

Following a successful pilot in the canton of Zug, around 100 Spar locations now accept digital currencies such as Bitcoin, Ethereum, USDC, DAI, USDT and other stablecoins. Payments are made by scanning a QR code at the register and confirming the transaction via a wallet app – similar to other mobile payment methods. Spar plans to gradually roll out this option across all its stores.

Germany’s retail giant Edeka is closely monitoring the trend and preparing its systems for future digital payment options. The company believes the introduction of a digital euro could boost consumer acceptance of digital methods of payment. However, it is also aware of the risks, including the high volatility of cryptocurrencies. Despite these challenges, Edeka is laying the groundwork for long-term adoption.

Meanwhile, a survey by the EHI Retail Institute reveals widespread hesitation among German retailers. Of the 132 companies surveyed, only 2.4% consider crypto payments relevant, while 12.7% find the technology “potentially interesting.” For the majority, cryptocurrencies remain a distant concept. “The topic is very far removed from everyday retail,” says EHI expert Horst Rüter.

Why is Switzerland more receptive? Yassin Hankir, head of Liechtenstein-based payment provider Abpay, believes that while societal acceptance of cryptocurrencies is significantly higher there, in Germany, they still carry a “shady” reputation. Yet, Hankir remains optimistic, citing the EU’s new MiCAR regulation as a promising framework to bring stability and legitimacy to crypto markets.