Swiss City to Pilot Bitcoin Payments for Public Services

The city of Zug, Switzerland, has announced it will pilot a bitcoin payments project that will allow local citizens to pay for public services using digital currency. Zug, a well-known Swiss financial hub long associated with the country’s tax haven reputation, kicked off the initiative during a local government hearing on 3rd May. Payments will go live on 1st July and run through the rest of the year, the city said in a statement. The move was announced on the city’s official website, which characterized the initiative as a means to assess the efficacy of accepting bitcoin for public....

The Swiss town of Zug has decided to continue accepting bitcoin payments for municipality services following a pilot that launched in July 2016. First announced in May, the picturesque lakeside town of Zug, also known as “Crypto Valley” for its embracive approach to Fintech, revealed a pilot program wherein it allowed bitcoin payments from its public for city services. A payment of up to 200 Swiss francs ($195 USD) in bitcoin was to be allowed. The pilot launched on July 1 and was scheduled to last until the end of 2016. At its conclusion, the City Council was to decide if Bitcoin or other....

After a few months of experimenting with bitcoin payments for municipal services, the City Council of ‘Crypto Valley’ Zug in Switzerland announced that the pilot program will become a permanent fixture with possible plans to expand. Bitcoin Payments a ‘Worthwhile Experiment’. Early May this year, Zug City Council decided to place bitcoin payment system on a pilot program to test the feasibility of bitcoin payments for municipal services. At current, the program has been used only by a dozen customers, allowing them to make train ticket payments with bitcoin up to 200 Swiss Francs’ worth.....

Switzerland seems to be a country to watch in regards to adoption of the digital currency Bitcoin by the mainstream. They were the first country in the world to have a city where you can pay for public services with it. Now from the 11th of November anyone can top up their Bitcoin wallet 24 hours a day from any of the SSB Ticket machines. In May 2016, the Swiss Broadcasting Corporation reported that residents will be able to make payments of up to 200 Swiss francs i.e. $ 200 or £ 140, using the crypto-currency for public services, in a trial scheme that began on July 1 and runs until the....

The Swiss town council of the small municipality of Zug, Switzerland made the decision on May 3rd, 2016 to accept Bitcoin payments for dues and public utilities as part of a trial run on cryptocurrency acceptance. The small town is already known for its fast growing fintech operations, even being called “Crypto Valley” by some, with 15 fintech-oriented....