Swiss health insurance firm integrates crypto as payment option

Atupri Health Insurance has announced that its policyholders can now make crypto payments with Bitcoin or Ether

The Switzerland-based health insurance provider announced it’ll be accepting payments in the form of cryptocurrencies from its customers. Not only is this achievement unprecedented but also a trendsetting one in the health industry.

According to the announcement made yesterday, the company has established a partnership with Bitcoin Suisse – a Swiss crypto-financial service.

It is through this partnership that Atupri will allow its 200,000 customers to complete crypto payments using either Bitcoin (BTC) or Ethereum (ETH).

The news comes as no surprise considering Switzerland has always been ahead of the curve when it comes to crypto solutions. A fintech-friendly country, Switzerland has even been dubbed the ‘Crypto Valley’ owing to its widespread acceptance of crypto payments. The country is also home to Zermatt, which recently launched a Bitcoin tax payment.

How the payment system works

Bitcoin Suisse will calculate and exchange the crypto payments made by policyholders into Swiss francs (CHf).  Atupri will then receive these payments in the standard currency i.e. Swiss francs. The health insurance company, however, won’t be holding any digital assets itself. In addition, customers will cater to all fees and expenses involved in mining.

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

Bitcoin Suisse has been around since 2013, focusing its operation mostly in Switzerland, Denmark and Liechtenstein. The firm holds custody of assets worth in excess of $1 billion and considers itself a pioneer and market leader in crypto-financial services.

Back in May, Bitcoin Suisse introduced custodial support as well as staking services for Tezos (XTZ). The firm also added silver, gold and platinum trading options to its platform. There are reports that Bitcoin Suisse aims to have a security token offering next year before proceeding to list its assets on the stock exchange by 2022.