Adoption: Swiss health insurance provider brings Bitcoin payment to its 200,000 customers

It is no longer news that Bitcoin payment is gradually being integrated across different sectors of the world. Most recently, a major health insurance company in Switzerland now supports Bitcoin payment including Ether (ETH). The development follows a partnership reached between the company and Bitcoin Suisse.

Bitcoin payment option for health insurance policyholders

Following the announcement on Monday, the Swiss health insurance company, Atupri Health Insurance partnered with Bitcoin Suisse, a digital currency financial services firm to debut the Ether and Bitcoin payment. This particular development will enable the company’s 200,000 policyholders to experiment with cryptocurrencies, especially for those who are not familiar with the technology yet. 

The agreement reached between the two companies holds that the insurance company will neither custody nor receive the cryptocurrencies by itself. Instead, the company will receive the Swiss francs equivalent of any cryptocurrency paid by customers. Thus, Bitcoin Suisse will be responsible for converting any Ether or Bitcoin payment to cash. 

Reportedly, Bitcoin Suisse holds over $1 billion worth of assets in custody. The company is one of the biggest cryptocurrency service providers in Switzerland.

Switzerland – a crypto hub

Atupri’s Head of Marketing and Sales, said Caroline Meli, commented on the development:

“As digital pioneers in the healthcare sector, we anticipate social trends and offer insurance solutions with long-term prospects Blockchain technology and the associated use of cryptocurrencies are becoming increasingly important.”

Unarguably, Switzerland is one of the crypto-friendly locations where digital currencies are accepted as a means of payment in several businesses, including in public transportation and institutions. The municipality of Zermatt recently announced that it accepts Bitcoin as a tax payment method.