Cryptocurrency financial services firm, Bitcoin Suisse, is teaming up with payments company, Wordline, to facilitate crypto use at the point of sale.
The two firms have signed a letter of intent for a partnership with further details to be presented at the upcoming Swiss Payments Forum in Zurich next week.
The cooperation is aimed at leveraging Worldline's payment service network and Bitcoin Suisse's cryptopcurrency payment capabilities to spread the use of crypto as a means of transacting in Switzerland.
A joint statement from the two firms declares that the service will be "intuitive and straightforward" on both sides of a transaction, with payouts made in Swiss francs or Euros, which may ease merchant fears about crypto's volatility.
Bitcoin Suisse's CEO, Dr Arthur Vayloyan, has applauded Worldline for its "pioneering spirit in taking this monumental step" and deems the partnership "an incredible step forward on the journey to bring crypto payments into broader adoption".
"Through the cooperation with Bitcoin Suisse, merchants can benefit from an entirely new offering without taking any conversion risk," Worldine CEO, Marc Schluep, adds.
Should the launch in Switzerland prove successful, Wordline intends to roll out its crypto payment service to the rest of Europe.
The alpine nation has established itself as a crypto centre in the last few years, with more than 800 companies invested in cryptocurrency and blockchain-related projects.
The town of Zug in central Switzerland has become known as Crypto Valley thanks to the prominence of companies engaged in cryptocurrency. In 2016, the town began accepting Bitcoin for public services.
Switzerland is also the home of the Libra Association, the company behind Facebook's project to launch its own digital coin.
Jamie Crawley, Reporter, Finextra