Mountain resort Zermatt is the second Swiss community to start accepting cryptocurrencies as legal tender. The local authorities are using a technology provided by a well-known Zug fintech.
Zermatt, a resort that boasts the most spectacular of all Swiss mountain tops – the Matterhorn – hasn’t yet been associated with cryptocurrencies. Unlike the fintech world of Zug and its so-called Crypto Valley, an area where a certain openness by the local government is to be expected.
But starting with immediate effect, Zermatt is accepting payments of both taxes and all other fees in cryptocurrencies, according to Bitcoin Suisse, which provides the point-of-sale solution for the service. Bitcoin Suisse hailed the decisions as «a sign that cryptocurrencies are becoming more and more common in everyday life», it said in the statement released on Wednesday.
Rival Mountain Resorts
Zermatt isn’t itself receiving any cryptocurrencies. According to the deal between Zermatt and Bitcoin Suisse, the latter will take such payments and transfer a corresponding amount of Swiss francs to the local authority.
Zermatt’s decision to take the step comes as a surprise, because it often has been associated with «old» money and rich English tourists. St. Moritz, one of the other major luxury resorts in Switzerland, by contrast has hosted the Crypto Finance Conference, where investors meet the fintech community. Skiers in St. Moritz can pay in Bitcoin for their ski tickets.
