Swiss shoppers can now pay for groceries using stablecoins and other cryptocurrencies following a partnership between SPAR, Binance Pay, and Swiss fintech firm DFX.swiss.
Through the collaboration with Binance Pay, a crypto payment service from Binance, and DFX.swiss, customers are able to make payments with cryptocurrency at more than 100 SPAR stores across Switzerland.
The rollout marks the first nationwide introduction of a crypto payment system in the country’s grocery sector and is expected to expand to over 300 locations in the coming months.
The system supports more than 100 cryptocurrencies, including euro- and US dollar-backed stablecoins, with no gas fees when using the Binance Pay app.
Payments are processed instantly and settled in Swiss francs or other currencies via the DFX.swiss integration.
André Scherrer, Managing Director of SPAR Switzerland, said:
“Smart wallet payment solutions such as those offered by DFX in combination with Binance Pay will be the future: customers are increasingly asking for them, and merchants save around two-thirds of commission fees compared to card payments.”
Switzerland, recognised as a hub for the crypto industry, is extending crypto adoption into everyday consumer retail.
Jonas Juenger, Regional Director for Binance, commented:
“As crypto payment adoption continues to grow, we’re proud to see our technology support such a trusted and widespread retail brand like SPAR. This collaboration shows how crypto is becoming part of everyday life, including grocery shopping in supermarkets, and highlights the powerful synergy between traditional retail and digital payment solutions.”
At checkout, customers can pay by scanning DFX.swiss’s “OpenCryptoQR” code with the Binance Pay app.
The payment is completed in the chosen cryptocurrency and converted to Swiss francs or other fiat currencies through DFX.swiss, ensuring the retailer receives the full amount in fiat.
Featured image credit: Edited by Fintech News Switzerland, based on image by sodawhiskey via Freepik
