Major Swiss health insurance company now accepts crypto payments

A major health insurance provider in Switzerland has made Bitcoin and Ether payments available to its policyholders.

According to an Aug. 31 announcement, Atupri Health Insurance is partnering with crypto financial services company Bitcoin Suisse for its 200,000 customers to make payments using Bitcoin (BTC) or Ethereum (ETH). Atupri, based in Bern, will not be holding any digital assets itself, but rather just receiving fiat payments in Swiss francs once the BTC or ETH is exchanged by Bitcoin Suisse. The insurance company — with roughly $887 million in annual sales as of 2019 — will have customers paying for any fees associated with mining. 

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

Bitcoin Suisse custodies more than $1 billion in assets and has been making forays into different financial sectors for some time. In May, the crypto broker added custodial support and staking services for Tezos (XTZ), and included gold, silver and platinum for trading on its platform. It also reportedly has plans to hold a security token offering next year and list its assets on the stock exchange by 2022.

Residents of Switzerland are often at the forefront of crypto solutions. The country is home to the ‘Crypto Valley,’ a FinTech-friendly region based in the city of Zug where many institutions and even public transportation accept crypto. The Swiss municipality of Zermatt also recently rolled out a Bitcoin tax payment option in partnership with Bitcoin Suisse.