In Zug, the heart of Crypto Valley, another company is taking an innovative step forward: the SPAR supermarket at the train station now allows its customers to pay for their purchases with Bitcoin.
Thanks to a collaboration with financial service provider DFX Swiss and the #OpenCryptoPay initiative, payments can be processed quickly and easily via the Bitcoin Lightning Network – a layer-2 solution for more affordable transactions. Once again, Zug is setting an example for the everyday usability of cryptocurrencies.
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Bitcoin as a means of payment in retail
At the SPAR supermarket in Zug, customers simply need to scan a QR code at the checkout to complete their transaction. The fast and low-cost Bitcoin Lightning Network is used in the process. Mobile wallets such as Phoenix Wallet make the process especially user-friendly, though other Lightning-enabled wallets are also seamlessly accepted.
The project is being implemented as part of #OpenCryptoPay, an initiative aimed at making it as easy as possible for merchants to integrate Bitcoin payments. A Swiss provider supports the technical infrastructure and ensures that merchants can instantly convert Bitcoin into Swiss francs to minimize exchange rate fluctuations.
Potential for expansion
Zug has built a reputation over the years as a pioneering city when it comes to cryptocurrencies. As early as 2016, the city administration began accepting Bitcoin for fee payments. Since 2021, taxes can also be paid in Bitcoin and Ether – a unique offering across Europe.
SPAR operates over 13’900 stores in 48 countries and serves around 14.7 million customers daily. The successful introduction of Bitcoin payments in Zug could serve as a model for broader implementation. If the system proves successful, SPAR may roll out Bitcoin payments in more locations both within Switzerland and internationally. This would mark a significant step toward global acceptance of Bitcoin in the retail sector.
