EY Switzerland first advisory firm to accept bitcoin

Now Accepting | December 2, 2016 By:

EY Switzerland has become the first advisory firm to accept bitcoin for its auditing and advisory services services.

Starting in January, EY Switzerland will accept bitcoin for invoice payments. The company will also launch a new bitcoin ATM at its office in Zurich.

People can use this ATM to exchange Swiss francs for bitcoin and vice versa. EY Employees will be provided with a secure digital wallet (EY wallet app) enabling them to pay for products and services using bitcoin. The firm said that the digital wallet will offer excellent protection against unauthorized access within the EY system environment and can be topped up by employees very easily on their company smartphone.

EY Switzerland CEO Marcel Stalder said that the pro-bitcoin push is necessary to get his company and employees familiar with blockchain technology, which will likely dominate the future of the finance industry.

“We don’t only want to talk about digitalization, but also actively drive this process together with our employees and our clients. It is important to us that everybody gets on board and prepares themselves for the revolution set to take place in the business world through blockchains, smart contracts and digital currencies. Blockchains are a very quickly developing technology that can permanently change many sectors. In Switzerland’s role as an important financial and industrial center and to further its development as a digital hub, it is essential that it be a pioneer in this area,” said Stalder.