The Swiss unit of AXA Group, one of the world’s largest insurance companies, added an option for clients to pay invoices in the first cryptocurrency.
AXA Switzerland clarified that the new payment option is available to all private customers as of the start of April. Bitcoin payments can be used for all of the company’s products, except those related to life insurance due to regulatory reasons.
“This is AXA’s response to growing demand from its clients for alternative payment solutions in which new technologies are playing an increasingly important role,” said Claudia Bienetro, head of AXA Switzerland’s Open Innovation department.
The insurer does not charge any fees for using the cryptocurrency payment option, but its partner Bitcoin Suisse charges 1.75% to payers to cover costs.
The oldest cryptocurrency company in Switzerland accepts payments for AXA Switzerland in the digital asset and converts them into Swiss francs.
“There are no bitcoins on AXA’s balance,” the insurer emphasised.
Regarding adding payment options with other cryptocurrencies at AXA Switzerland, they noted that for now they want to gain experience using digital gold before making decisions on the next steps.
Earlier, Atupri Health Insurance, a major Swiss provider of medical insurance services, began accepting payments in Bitcoin and Ethereum. The firm also receives them in fiat after exchanging digital assets through Bitcoin Suisse.