Switzerland’s Zermatt municipality has announced that it will allow its citizens to pay their taxes using Bitcoin (BTC). Authorities in Zermatt have partnered with Switzerland’s oldest and largest crypto financial services company, Bitcoin Suisse, to make this a reality.
Bitcoin will serve as a middleman in this arrangement. Taxpayers are allowed to make their payments using BTC which is then converted to Swiss francs by Bitcoin Suisse. The amount is then transferred to the official bank account after the conversion.
Speaking on the development, Bitcoin Suisse Head of Crypto Payments Armin Schmid, says that Zermatt has placed itself as one of the leaders, as the world pushes on for cryptocurrency adoption.
“By accepting Bitcoin as a means of payment, Zermatt finds itself once more among the pioneers and supporting a growing ecosystem of cryptocurrencies.”
The announcement says that taxpayers who want to go this route would have to first apply to the Zermatt Tax Office. After that, they will receive a link via e-mail which will let them access an online payment portal. The payment portal will then allow the taxpayers to make a direct Bitcoin transfer to the municipality, from their crypto wallet.
Zermatt Mayor Romy Biner-Hauser expressed excitement at the development.
“An innovative, pioneering spirit is one of the trademarks of Zermatt, which is why we are happy to support residents in providing them with the solutions they require.”
Last year, as crypto adoption in the country pushed on, Swiss stock exchange, SIX, announced plans to float its own stablecoin.
Image Credits: Pixabay
