Crypto Payments Incorporated into Swiss Health Insurance Company

It is no longer a novelty that Bitcoin and other cryptocurrencies are being actively incorporated in our everyday lives. Major firms and enterprises are accepting them as a way of payment and gradually it is looking forward to replacing the traditional money. They have numerous advantages including the speed of transaction, anonymity and transparency, which make them useful.

Because of that it is no wonder that a major health insurance company in Switzerland has given its policyholders the ability to pay for services with cryptocurrency. Policyholders can now pay for their services either in Bitcoin or Ether through Bitcoin Suisse. According to the announcement, published on August 31 Atupri Health Insurance is now partnering with Bitcoin Suisse, a crypto financial services company. And now, the company's 200,000 customers are able to make payments using Bitcoin (BTC) or Ethereum (ETH).

At the same time, Atupri Health Insurance, based in Bern, will not store any digital assets itself. Instead, it will receive fiat payments in Swiss francs after Bitcoin Suisse exchanges BTC or ETH. The insurance company, which has annual sales of around $887 million as of 2019, hopes to reach out to customers who pay any fees associated with mining. The company declared that as digital pioneers in the healthcare sector, they anticipate social trends and offer insurance solutions with a long-term perspective. Caroline Meli who is a head of marketing and sales at Atupri, also added that blockchain technology and the associated use of cryptocurrencies are becoming more and more important.

Bitcoin Suisse is a big wallet that holds more than $1 billion in assets and has been storming various sectors of the traditional finance and insurance market for some time. In May, the crypto broker added custody support and staking services for Tezos (XTZ). Moreover, it also included gold, silver and platinum for trading on its platform. It also supposedly plans to host a security token offering next year and list its assets on the stock exchange by 2022.

It has not been the first time Swiss people have been under spotlight. They are often at the forefront of crypto solutions. The country established itself as a crypto valley, a fintech friendly region located in the city of Zug, where many institutions and even public transport accept cryptocurrency. The Swiss Municipality of Zermatt also recently introduced a Bitcoin tax option in partnership with Bitcoin Suisse. So Switzerland which is an epitome for its innovations and way of life will certainly incorporate more things in the future.

Image by WiBestBroker