Europe’s leading insurer AXA now accepts Bitcoin payment

TL;DR Breakdown

• All-lines insurer AXA announced that customers can now pay bills in Bitcoin.
• The company chose BTC, as customers have been increasingly demanding other alternatives for payment.

Following the growing popularity of cryptocurrencies, the Switzerland-based all-lines insurer AXA has enabled crypto payment options for its customers. Almost all the services offered by the company can be paid for using the leading cryptocurrency, Bitcoin (BTC). AXA, which is the second-largest insurer in Europe, has become the first-ever all-lines insurer company to debut a crypto payment option.

AXA invests in its digital future

Per the announcement on Wednesday, the development comes amid the increasing level of demand for cryptocurrencies among the company’s consumers. AXA attributed crypto’s popularity to the recent outbreak of the coronavirus pandemic, as it caused many people and businesses to seek digital alternatives for payments, which includes crypto at most. Already, the insurer conducted a survey back in 2019, which showed that a third of its customers own cryptocurrencies.

So, the new payment option today represents an “investment in the company’s digital future,” the report reads, with the Head of Open Innovation, Claudia Bienentreu, adding that “this is AXA’s response to growing demand from its customers for alternative payment solutions, with new technologies playing an ever greater role.”

The crypto payment service was enabled via AXA partnership with Bitcoin Suisse, a crypto broker based in Switzerland. The insurer said it would support more cryptocurrencies, including TWINT, as payment options in the near future.

Crypto is just getting started

Since the past year, many companies have integrated support for crypto payments, which is not too surprising following the increasing interest and popularity of digital currencies. Recently, the popular electric car company, Tesla, announced it would accept Bitcoin payments for its products.