Two prominent Swiss luxury brands are going to accept payments in Crypto via a new Smartphone app Inapay. The company announced the development on Wednesday at the CV Summit – Crypto Valley, reports local news outlet Finews.

One of the prominent brands is the five-star luxury hotel Dolder Grand located in Zurich, Switzerland. Dolder is one of the most famous brands in Switzerland established back in 1899.

The other brand to partner with Inapay is Kessel, a car dealer that ‘sells oldtimer, luxury, and sports cars and has showrooms in Lugano and Zug’ – where the Crypto valley is located. Kessel is one of the major Swiss brands that sells classic cars as well as luxury cars like Ferrari and Lamborghini.

Customers will be able to pay in Bitcoin (BTC) or Ethereum (ETH) in both the outlets using Inapay app. The service is jointly developed by Inacta, a Zug-based Fintech company, and crypto-specialist Bity.

Cryptocurrencies are seen as a novelty item by some investors, buying luxury items using Bitcoin is a trend that has been on the rise. Not only have many luxury car brands have started accepting Crypto but also watch brands, luxury real estate, museums are also jumping on the Crypto bandwagon.

Reminds me of electric light in the time of Edison: first adopted by high end brands as luxury/novelty. https://t.co/J7lX5jyOgW — Tuur Demeester (@TuurDemeester) March 27, 2019

Despite the severe drop in price last year, Crypto adoption doesn’t seem to slow down especially in Switzerland. Swiss authorities allowed a Crypto ETP (Exchange Traded Product) to get listed on the countries biggest exchange SIX. The ETP has managed to perform really well so far becoming the most traded ETP on the exchange.

Major Swiss e-commerce brand Digitec-Galaxus and leading American Electronics Distributor Avnet recently started accepting payments in Cryptocurrencies.

Days after Switzerland's biggest e-commerce platform integrated bitcoin and crypto platforms, a Swiss luxury hotel has started to accept bitcoin. Merchant adoption is important for crypto, good to see some progress in 2019. https://t.co/4coV5YUmGI — Joseph Young (@iamjosephyoung) March 27, 2019

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