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Launch of Bitcoin Payments at Swiss Spar Stores

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

Spar Switzerland, a major grocery store chain, is the first to accept Bitcoin across all payment processes. Rahim Taghi Zadegan, director of Bitcoin Switzerland Association, 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, with currently 600 companies accepting cryptocurrencies in Switzerland. This launch offers a new payment method and includes data from DFX Swiss and BTC Map in the rollout process. Financial discussions indicate market interest in Bitcoin despite central bank reservations pointing to market volatility. However, demand is driving its adoption, and Spar's launch is considered a significant business achievement in Switzerland. Switzerland's crypto-supporting initiatives set a precedent. Switzerland's history with cryptocurrencies includes previous 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.