Crypto purchases at the POS: SMART VALOR and SweePay jointly drive crypto adoption in Switzerland

SMART VALOR
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Wednesday, April 19, 2023
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Many people wonder how and when cryptocurrencies will find their way into their everyday lives. This is a legitimate question, as the topic still has a somewhat niche existence in the wider global public. What is often overlooked, however: Crypto adoption (i.e. the general acceptance of crypto, measured across different user segments from early adopters to investment- and pension funds) is steadily progressing. According to several surveys in the DACH market, around 10% of Swiss and 8% of Germans already own crypto, while around 35% are considering investing in crypto.   

The main problem for truly widespread crypto adoption has always been the "last mile" issue. More specifically, how to make it easy and convenient for people to buy cryptocurrencies with fiat money or to resell cryptocurrencies for fiat money at a point of sale. Today, there are a number of approaches being taken around the world to solve this problem – but one country in particular stands out: Switzerland.  

Since 2016, it has been possible to buy crypto at the 1,500 (expected number of ticket machines as of 2023) ticket machines of the Swiss Federal Railways (SBB). And it's very easy, with just a few clicks and at any time of the day or night. All you need is cash or a credit card, and in no time at all, anyone can become a proud crypto owner. Since 2022, this simple crypto purchase has also been possible at Valora Holding AG's sales outlets throughout Switzerland (k kiosk, avec, Press & Books). 

In any case, Switzerland is way ahead when it comes to crypto. Not only is it home to this unique and very well-developed infrastructure for buying crypto, Zug's "Crypto Valley" has also developed into a real crypto hotspot in recent years, attracting more and more companies from the crypto sector.  

A powerful collaboration for easy and secure crypto purchases in Switzerland 

The Swiss crypto exchange SMART VALOR and the financial intermediary SweePay AG are working together since 4. April 2023 to ensure that the purchase of cryptocurrencies at SBB ticket machines and the Valora points of sale k kiosk, Press & Books and avec is simple, smooth and secure.  

The initiator of the project is SweePay AG, while the crypto exchange-technology behind the project comes from SMART VALOR, Switzerland's only NASDAQ-listed full-service crypto exchange.   

The technological effort behind the complex processes involved in the smooth purchase of crypto at the respective points of sale is enormous: after consumers have confirmed their crypto purchase at the POS, a new crypto wallet with private keys or passwords must be generated in the background. At the same time, the current crypto rate must be calculated and set, the crypto purchase transaction must be initiated and completed - and all this must be done at top speed so that the customer does not have to wait forever. SMART VALOR as a crypto exchange in the background makes this possible.

Olga Feldmeier, co-founder and chairwoman of SMART VALOR: "We are very excited to be working with SweePay. This partnership fits perfectly with our B2B strategy of leveraging the enormous potential of our exchange through a wide range of distribution partners. The cooperation with SweePay is an important step that further strengthens our position as a leading company and trusted partner for the adoption of blockchain technology and WEB3. Every day, up to 1.25 million people travel on SBB trains and buy coffee or newspapers at Valora outlets. We could hardly wish for greater exposure to a potential clientele at this time".  

Rodolphe Texier, co-founder and CEO of SweePay AG: "SMART VALOR is a competent, efficient and fast partner. They will be able to support our Swiss and European strategy. The cooperation has worked very well from the first minute and we are convinced that we have found the right partner for our roadmap". 

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Rodolphe Texier, CEO at SweePay AG

Gabriele Lafranchi, Chairman of the Board of Directors at SweePay AG

Olga Feldmeier, Executive Board Chairman & Co-founder of SMART VALOR

Oliver Feldmeier, CEO & Co-founder of SMART VALOR

How to buy Crypto at SBB vending machines and Start2Coin at Valora Holding AG's outlets 

SBB ticket machines and the Valora outlets k kiosk, Press & Books and avec offer different ways to buy Crypto.   

At the SBB ticket machines, you receive your Bitcoin in a secure paper wallet when you buy them. All you have to do is enter the desired amount (between CHF 20 and CHF 500), enter your mobile phone number and confirm the TAN sent to the machine. The machine then prints out the paper wallet with the crypto amount purchased.       

At Valora points of sale, the process is different: the customer buys a Start2Coin card from SweePay AG. This is a rechargeable card with an NFC memory chip that acts as a crypto wallet. This card costs CHF 29.90 once and can be used as long as desired. The customer presents the card, selects the amount and pays. The card is immediately topped up. If the customer wants to transfer his crypto to another address, he needs an NFC-enabled smartphone and an app from the card manufacturer Tangem. 

 

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SweePay and SMART VALOR make crypto purchases easy   

SweePay is a Swiss company and registered as a financial intermediary with SRO PolyReg and is subject to FINMA supervision. Since 2016, SweePay has been pursuing the goal of simplifying crypto purchases for everyone in cooperation with SBB and Valora.    

SMART VALOR was the first crypto exchange in Switzerland to receive authorisation as a financial intermediary, was registered as a crypto exchange and custodian under the Blockchain Act in Liechtenstein and is one of two crypto exchanges listed on NASDAQ. In addition to services for end customers, SMART VALOR also offers CaaS (Crypto as a Service) offerings for banks and fintechs that want to offer secure crypto trading and custody to their customers. As part of the cooperation between SweePay and SMART VALOR, cryptocurrency purchases made at SBB and Valora ATMs will be processed via the SMART VALOR platform.   

The cooperation between SMART VALOR, SweePay, SBB and Valora AG means maximum convenience and the highest level of security for customers when purchasing cryptocurrencies at SBB and Valora Holding AG machines.