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Launch of Bitcoin Payments in Swiss Spar Stores

Spar Switzerland will implement Bitcoin payment solutions nationwide, following testing phases in the cities of Zug and Kreuzlingen. The payment service relies on DFX Swiss's OpenCryptoPay platform and uses the Lightning Network to speed up transactions.

Spar Switzerland, a major grocery store chain, is the first to adopt Bitcoin for all payment transactions. Rahim Taji Zadghan, director of the Bitcoin Association Switzerland, expressed the simplicity of this system, stating: "The adoption of cryptocurrencies in the retail sector enhances the number of Swiss companies."

This launch is expected to expand the adoption of cryptocurrencies in the retail sector, where there are now 600 companies accepting cryptocurrencies in Switzerland. This launch provides a new payment method and includes DFX Swiss and BTC Map data in the rollout process. Financial discussions include market interest in Bitcoin despite central bank reservations that have pointed to market volatility. However, demand is driving its adoption, and Spar's launch is considered a significant business achievement in Switzerland. Switzerland's initiatives supporting cryptocurrencies set a precedent. Switzerland's history with cryptocurrencies includes prior initiatives, such as tax payments in Zug using digital currency. The plan in Lugano to use Bitcoin as legal tender reflects the competitive landscape of cryptocurrencies.