Swiss town Zug to continue accepting bitcoin payments

Now Accepting | December 21, 2016 By:

The Swiss town of Zug, also known as Crypto Valley, has decided to continue accepting bitcoin payments for municipality services following a pilot that launched in July 2016.

“At its meeting on 13 December 2016, the City Council decided to continue accepting bitcoin as a means of payment. Other electronic funds such as Twint and ApplePay will be evaluated in the coming weeks. The city council also examines a blockchain application”, the official announcement reads.

Although only a dozen customers wanted to pay with bitcoin since July, the release said that for the city administration, the pilot project was worth it.

“It was an important experience for us to install and test the technology for bitcoin payments. We were able to put a sign against the Fin-Tech company in Zug and express that they are welcome here. We have thus triggered an incredible international media frenzy which lasted until last week”, President Dolfi Müller said.

Blockchain applications will also be explored for the public sector, the municipal authority stated, continuing to roll out the welcome wagon for bitcoin- and blockchain-related companies.