The cryptocurrency boom in Switzerland has shifted to another dimension as retailers issue bitcoin (BTC) coupons and gift cards.
According to the Swiss daily Tages-Anzeiger, Manor, the country’s largest supermarket chain, already sells bitcoin coupons in 59 of the branches.
Meanwhile, retail giant Valora will start selling BTC gift cards in its kiosks across the country from April 1.
The Bitcoin coupons, called “Cryptonow”, are owned by Värdex Suisse, a cryptocurrency company. Värdex is also a subsidiary of the main Swiss exchange Bitcoin Suisse.
According to Simon Grillk, operations manager for Värdex, Cryptonow offers a simple installation channel for potential cryptocurrency users who are afraid of the usual methods of acquiring virtual currencies. For Grylka, the Cryptonow coupon is like digital gold coins.
Cryptonow coupon cards will be available in 3 options, from CHF 100 to CHF 500 ($ 107 to $ 535). Bitcoin Värdex gift cards are issued amid the strong growth in the cryptocurrency and blockchain industry in Switzerland.
As Cointelegraph previously reported, the value of the 50 largest blockchain companies in Crypto Valley has increased more than 680% since the mid-2020s.
As commercial use of BTC continues to grow, Cryptonow holders are limited in how they use their Bitcoin gift cards.
Currently, their options will be to redeem coupons through an exchange service, or sell the amount of BTC loaded on the card using one of 70 ATMs operated by Värdex.
But given the fixed and fees that retailers charge for cards, it seems that Cryptonow, in its current version, is a new way to get bitcoin.
While there are many ways to introduce cryptocurrency in gift card trading, Cryptonow is one of the first products to introduce cryptocurrency gift cards.
The use of gift cards to buy cryptocurrency is common in the peer-to-peer trading arena, especially in jurisdictions with underdeveloped financial services infrastructure.