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Hoskinson Seeks to Unite Global Blockchains on Cardano and Make ADA No. 1 Crypto

Lele Jima
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Hoskinson Seeks to Unite Global Blockchains on Cardano and Make ADA No. 1 Crypto

Cardano founder Charles Hoskinson has shared a playful yet symbolic image on X to promote his vision of uniting blockchain ecosystems through Cardano’s technology. 

Indeed, Hoskinson is not relenting in his quest to unite the broader crypto industry. Earlier today, he posted a photo of himself styled as Pokémon protagonist Ash Ketchum.

In the image, Hoskinson stands on a New York street holding Poké Balls branded with the Cardano logo. A digital map behind him highlights nodes across the Cardano network. Although humorous, the post carries a clear message.

Hoskinson captioned it, “Got to integrate them all,” a twist on the Pokémon slogan “Gotta catch ’em all,” signaling his goal of uniting today’s fragmented blockchain ecosystems.

Efforts to Unite the Crypto Industry

Hoskinson has actively pushed to unite the crypto industry, arguing that collaboration is essential for broader market growth. His efforts intensified after Donald Trump’s re-election in November 2024. Shortly afterward, he ended his longstanding dispute with the XRP community and met with several top crypto leaders, including Ripple CEO Brad Garlinghouse and Stellar co-founder Jed McCaleb.

Additionally, Hoskinson and the broader Cardano ecosystem have launched a major airdrop initiative designed to welcome users from multiple blockchain networks into the Midnight ecosystem. Supported chains include Cardano, XRP Ledger, Solana, Bitcoin, Brave, Avalanche, Ethereum, and BNB Chain.

With two claim phases already completed, the Midnight Foundation plans to distribute NIGHT tokens and list them for trading on several exchanges next week.

Hoskinson Wants ADA to Lead Crypto Market

Meanwhile, Hoskinson reaffirmed his long-term vision for Cardano, stressing his commitment to the network’s growth and global impact. During his recent livestream, he stated that he wants the Cardano ecosystem to succeed and for ADA to become the world’s largest cryptocurrency. He even expressed his ambition for Cardano to become the digital currency that powers global systems.

These statements highlight his goal of positioning Cardano as a dominant force in the digital asset landscape. However, for ADA to surpass Bitcoin, which currently leads the market with a valuation of $1.73 trillion, it would require a significant surge.

At Cardano’s current market cap of $13.98 billion, ADA would need to increase by approximately 12,417% to reach roughly $1.75 trillion and overtake Bitcoin. At that valuation, ADA could trade near $48, based on its circulating supply of 35.89 billion tokens.

Dormant Bitcoin Miner Moves 50 BTC After 15 Years of Silence

Zabi
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Dormant Bitcoin Miner Moves 50 BTC After 15 Years of Silence

A long-inactive Bitcoin miner wallet transferred its entire 50 BTC balance this week, bringing to an end more than 15 years of silence on the blockchain.

The unexpected move unfolded amid heightened market uncertainty and renewed pressure on the world’s largest cryptocurrency.

Old Mining Bitcoin Wallet Springs Back to Life

According to Lookonchain, the wallet, which last showed activity in March 2010, suddenly sent out 50 Bitcoin valued at roughly $4.33 million. Blockchain records confirm the coins were mined on March 18, 2010, and have remained untouched ever since.

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In its first transaction in nearly 16 years, the owner split its holdings into five newly created addresses, distributing 10 BTC to each. As of press time, the miner’s identity remains unknown, adding intrigue to the rare on-chain event.

The timing of the transfer coincided with a notable downturn in Bitcoin’s price. The world’s largest cryptocurrency fell about 8% on Monday, extending a slump that has lasted for almost two months. 

Specifically, prices dropped from around $91,000 late last week to a Monday low near $84,000, as investors reacted to concerns that Japan may raise interest rates.

A potential shift by the Bank of Japan raised fears of an unwind of “yen-carry trades,” in which investors borrow yen to buy higher-yielding assets, including US stocks and Bitcoin.

Analysts Recall a Similar Shock in 2024

The market’s reaction drew comparisons to the volatility seen in August 2024. Investment analyst Nic Puckrin highlighted how a similar unwinding of yen-funded trades during that period drove Bitcoin down from above $66,000 to around $54,000 within days.

Puckrin noted that such patterns can reappear quickly and urged investors to brace for more turbulence. Even so, he pointed out that the broader economic backdrop still favors risk assets, especially with rising expectations of a potential U.S. Federal Reserve rate cut in December.

Corporate Pressure Adds to Market Unease

Market sentiment deteriorated further following developments at Strategy, the largest corporate holder of Bitcoin.

The company disclosed a new $1.4 billion reserve intended to cover upcoming dividend and interest obligations. The announcement aimed to ease fears that the firm might need to sell part of its roughly $56 billion Bitcoin stash if prices continue to weaken.

While Strategy’s mNAV valuation stood at 1.11, concerns are rising that it could soon turn negative. Last week, CEO Phong Le hinted that a negative reading might force the firm to offload some of its holdings.

Investors reacted sharply. Shares of Strategy dropped more than 10% on Monday and are now down about 66% from their November 2024 peak. The company also raised the yield on its Series A “Stretch” preferred stock to 10.75%, with dividends paid monthly.

ETF Flows Show Modest Stabilization

Amid the turbulence, U.S. spot Bitcoin ETFs showed tentative signs of stabilization. The funds recorded around $70 million in inflows last week. This provided a brief respite following nearly $4.6 billion in outflows over the past month.

Much of the earlier pressure came from the iShares Bitcoin Trust (IBIT). This fund has now posted five straight weeks of withdrawals, the longest streak since its January 2024 debut.

Vanguard Lists XRP ETFs for Clients as Inflows Exceed $756M

Abdulkarim Abdulwahab
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Vanguard Lists XRP ETFs for Clients as Inflows Exceed $756M

The XRP community is buzzing as investment giant Vanguard has officially listed a full lineup of XRP spot ETFs on its brokerage platform. 

The listings appeared under Vanguard’s “Non-Vanguard Funds” section within the Digital Assets category.

Commentator Arthur shared a screenshot showing products from Franklin Templeton, Canary Capital, REX-Osprey, ProShares, and others already visible on the brokerage interface. 

Another user remarked that Vanguard “just went full XRP mode,” calling it a signal that “the floodgates for mainstream money are now OPEN.”

Screenshot 2025 12 02 at 83618 am
XRP ETF on Vanguard

Meanwhile, prominent XRP commentator Zach Rector tweeted that Vanguard flipped to allowing crypto ETFs only after XRP products went live. “Just saying…,” he remarked.

Vanguard Has “Finally Caved”

In his tweet, ETFStore president Nate Geraci stated that Vanguard has “finally caved,” allowing spot Bitcoin, Ethereum, XRP, and Solana ETFs on its brokerage platform. Geraci added that the decision fulfilled his long-standing prediction from late 2024 that Vanguard would eventually capitulate.

XRP analyst Chad Steingraber highlighted that the development will accelerate asset inflows far beyond the estimates he previously shared.

Despite the shift, Vanguard reiterated it has no plans to launch its own crypto ETFs. Moreover, it will stick to offering only third-party products that meet regulatory standards.

Major Policy Reversal for an $11 Trillion Giant

Meanwhile, this update marks one of the most significant policy reversals in the history of the $11 trillion asset manager. Vanguard previously rejected crypto ETF access outright, with former CEO Tim Buckley warning against Bitcoin in long-term portfolios. 

But leadership changed in 2024 when Salim Ramji, formerly of BlackRock’s ETF division, stepped in as CEO. Persistent investor demand and growing institutional interest appear to have pushed the firm to adapt. 

Starting Tuesday, Vanguard clients can begin trading selected crypto ETFs and crypto-focused mutual funds, similar to how it handles gold-based investment products.

Analysts say the move could accelerate crypto adoption within traditional finance. Crypto investor Nilesh Rohilla even predicted that markets could see a near-term boost, including a potential 5% rise in Bitcoin following the announcement.

XRP ETFs Accumulate Over $756 Million With Zero Outflows

Vanguard’s listings arrive during a surge of interest in XRP-based exchange-traded products. According to SoSoValue, spot XRP ETFs have now recorded $756.26 million in net inflows. Meanwhile, total assets have reached $723 million — all within just 11 trading days.

Remarkably, XRP ETFs have not logged a single day of outflows. Major inflow waves include:

  • $243 million on Nov. 14, during Canary Capital’s launch
  • $164 million on Nov. 24, aligned with the debut of Grayscale and Franklin Templeton’s products
  • $89.65 million flowed in most recently on Monday
Screenshot 2025 12 02 at 83844 am
XRP ETF Inflows

Analysts such as Jake Claver and Steingraber believe this rapid accumulation is quietly draining liquid XRP from exchanges. They argue that the development is setting up a potential supply shock that could force a significant repricing.

Adding to the momentum, 21Shares announced that its spot XRP ETF (ticker: TOXR) has been approved. The fund will list on the Cboe BZX Exchange, and trading is set to commence.

Over 48B XRP Held by 100M+ Whale Wallets, Highest Since 2018: Details

Elendu Benedict
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Over 48B XRP Held by 100M+ Whale Wallets, Highest Since 2018: Details

Despite declining wallet addresses and prices, XRP whales still hold a staggering amount of the token, now at a level last seen seven years ago.

Notably, Santiment recently spotlighted a fascinating trend among XRP whale wallets in recent weeks. While the number of whale and shark addresses declined, the weight of their holdings has persistently trended upward.

Historic Hold Despite 569 Fewer Wallets

The market intelligence platform shared that wallets holding at least 100 million XRP tokens have shrunk by 569 addresses in the past 8 weeks, representing a 20.6% drop. By the end of September, about 2,757 wallets held 100 million XRP or more, but recent data shows that this figure has dropped to 2,189 addresses.

100M+ XRP Whale Holdings
100M+ XRP Whale Holdings

Notably, this data suggests that these whales may either be selling amid recent price underperformance or merging their balances to concentrate their bags within fewer addresses. However, if the decline came from actual sales, the market would observe a dip in overall holdings.

Nonetheless, the holdings among these whales have ticked up instead. In fact, Santiment data shows that these 100M+ XRP whale accounts now hold their highest cumulative balance since 2018. Specifically, their stash stands at a seven-year high of 48 billion tokens.

The increased holdings among this unique caliber of whales reassure enthusiasts that whales are still keen on XRP despite the recent downtrend. Such a contrasting accumulation drill adds to the growing demand for XRP as ETFs enter the fray, sparking speculations of a bullish price move.

TD Sequential Says Buy XRP

Meanwhile, supporting this bullish development is a technical signal suggesting XRP may have bottomed. A parallel analysis by Ali Martinez identified a buy opportunity for the cryptocurrency, even as it holds above the psychological $2 support level.

Martinez highlighted a buy signal on the XRP weekly chart using the TD Sequential indicator. For the uninitiated, the technical indicator identifies possible price trend exhaustion using bars numbering between 1 and 9.

The buy signal printing on a higher timeframe further reinforces its credibility. While prices may look weak on lower timeframes, the TD Sequential suggests that a rebound could eventually happen for the XRPL native token.

$11 Trillion Vanguard Finally Enables Bitcoin and Crypto ETFs for Clients

Zabi
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0
$11 Trillion Vanguard Finally Enables Bitcoin and Crypto ETFs for Clients

Vanguard is set to allow its customers to trade crypto ETFs and mutual funds.

The decision marked the end of years of reluctance toward crypto assets and underscored rising demand from both individual and institutional investors.

Vanguard to Enable Crypto Trading Starting Tuesday

Beginning Tuesday, Vanguard clients will gain access to selected crypto-focused ETFs and mutual funds through the firm’s brokerage platform. The company confirmed that these products will be offered through third-party issuers, as it does with gold-based investment vehicles.

A spokesperson said the move aims to meet the diverse needs of its large investor base, which continues to show interest in digital assets.

In addition, Vanguard emphasized that it will list only ETFs that meet regulatory requirements. These will include products tied to major digital assets such as Bitcoin, Ethereum, XRP, and Solana.

However, the firm ruled out support for memecoin-related offerings. It also reiterated that it has no plans to develop its own crypto ETFs or mutual funds.

Shift Follows Leadership Change

This policy reversal follows years of caution. Vanguard previously opposed crypto ETFs, citing high volatility and concerns about speculative behavior. For instance, former CEO Tim Buckley repeatedly expressed doubts about including Bitcoin-based products in long-term portfolios.

Buckley stepped down in 2024, and leadership shifted to Salim Ramji, the former head of BlackRock’s ETF division. Although Ramji had also resisted crypto offerings earlier in his tenure, the company’s latest move signals a broader reassessment amid persistent customer requests.

Vanguard Manages Over $11 Trillion in Assets

Vanguard remains one of the biggest global asset managers, overseeing more than $11 trillion in assets as of January. Its decision to open the door to crypto investments may influence how other major financial institutions approach digital assets.

Analysts Expect Significant Market Impact

Early commentary on social media platform X suggests that the shift could trigger strong market activity.

Some analysts believe the decision may drive a near-term boost in cryptocurrency prices. Specifically, Crypto analyst and investor Nilesh Rohilla even predicted that Bitcoin could see a quick 5% rise after the announcement.

Meanwhile, others view the move as a sign that traditional finance is steadily entering the digital asset space, with some observers suggesting that large amounts of capital could follow.

As of press time, Bitcoin is trading at $87,003, up 1.2% over the past 24 hours.

Crypto Founder Questions Shiba Inu Team’s Failure to Report Shibarium Bridge Hack to Authorities

Lele Jima
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Crypto Founder Questions Shiba Inu Team’s Failure to Report Shibarium Bridge Hack to Authorities

Shane Cook, the founder of Pulse Digital Marketing, has raised serious concerns about the Shiba Inu team’s handling of the Shibarium Bridge exploit. 

Nearly three months have passed since the bridge suffered a devastating hack that drained more than $3 million in user funds. At the time, Shiba Inu developer Kaal Dhairya confirmed the attack and said the team had contacted relevant authorities and blockchain security firms such as PeckShield and Hexens.

Laundering Trail

Yesterday, on-chain sleuth and Shiba Inu community figure Shima published a detailed breakdown of the hacker’s laundering trail. He traced the flow of funds from the initial exploit wallet through Tornado Cash and ultimately to dozens of KuCoin deposit addresses.

According to Shima’s findings, the hacker laundered 260 ETH through Tornado Cash, with 232.49 ETH eventually landing on KuCoin. His analysis also revealed 111 wallets tied to the laundering process and 45 unique KuCoin deposit addresses.

Although mixers like Tornado Cash rarely expose hidden wallets, Shima confirmed that a single mistake—an accidental transfer of just 0.0874 ETH—linked the hacker’s “secret” wallets and unraveled their entire obfuscation strategy.

No Law Enforcement Case Number?

After completing the investigation, Shima said he shared the evidence with the Shiba Inu ecosystem team so they could coordinate with law enforcement. Shortly afterward, K9 Finance team member DeFi Turtle contacted KuCoin to request a freeze on the funds.

However, the exchange insisted on a formal law-enforcement case number before taking action. Without this requirement, Shima reported that KuCoin refused to intervene.

Pulse Digital Marketing Founder Questions Shiba Inu Team’s Handling of Shibarium Exploits

Reacting to the report, Pulse Digital Marketing founder Cook questioned why the Shiba Inu team never engaged law enforcement, despite having substantial on-chain evidence that could support an investigation.

The question highlights a growing concern: if the Shiba Inu team truly intends to recover funds or pursue the attacker, why hasn’t a formal complaint been filed? The absence of a law enforcement case number prevented KuCoin from acting on the evidence.

Without a police report, exchanges cannot freeze accounts or release internal data that might help identify money mules or the primary attacker. Shima’s findings make the team’s lack of escalation even more conspicuous.

Despite having an investigative roadmap “handed to them on a silver platter,” according to Shima, the team still did not involve authorities or obtain the case number needed for KuCoin to freeze the stolen assets.

Since the Shiba Inu ecosystem team has not filed an official report, Shima is now urging individual victims to take action themselves. He is offering the complete dataset, methodology, and MetaSleuth mapping to any victim or law enforcement agency willing to pursue the case in their respective countries.

In the meantime, the team has reopened the Shibarium Bridge, and repayment plans are now underway.

Ripple Moves 1B XRP, Locks 700M for December with No Escrow Release

Sam Wisdom Raphael
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Ripple Moves 1B XRP, Locks 700M for December with No Escrow Release

Blockchain firm Ripple has locked up 700 million XRP tokens for December with no escrow release for the month yet.

The recent development comes as the company prepares for the release of its escrow holdings for the month of December 2025. Specifically, on-chain data shows that Ripple moved 1 billion XRP tokens across three wallets and then locked up 700 million tokens from this stash earlier today.

Ripple Moves 1B XRP, Locks Up 700M

The first transaction involved the Ripple (26) wallet, one of the company’s widely used accounts. Specifically, this Ripple (26) wallet transferred 300 million XRP to the Ripple (1) wallet today at 1:02 AM UTC. A minute later, Ripple (26) moved another 200 million XRP to Ripple (15). This brought the total moved from the Ripple (26) account to 500 million tokens. 

What followed was another string of transactions, this time from the Ripple (27) wallet. Today at 1:05 UTC, this account moved 100 million XRP to Ripple (15), the same wallet that earlier received 200 million tokens. A minute later, Ripple (27) transferred 400 million XRP to the Ripple (14) account. This brought the amount moved by Ripple (27) to 500 million tokens.

Essentially, both Ripple (26) and Ripple (27) transferred 1 billion XRP to Ripple (1), Ripple (14), and Ripple (15). Of this figure, Ripple (1) received 300 million XRP tokens, Ripple (14) got 400 million XRP, and Ripple (15) gulped 300 million XRP tokens. 

Ripple Moves XRP Whale Alert on X
Ripple Moves XRP | Whale Alert on X

Minutes after the fund movements, Ripple then locked up some of these tokens. Specifically, the Ripple (15) wallet moved all of its 300 million tokens to escrow at 1:12 AM UTC. Meanwhile, at 1:14 AM UTC, Ripple (14) also locked up all its 400 million XRP in escrow, bringing total locked tokens to 700 million. However, Ripple (1) has retained its 300 million XRP.

Pattern of Delayed Escrow Releases

Although the company has moved 700 million XRP into escrow in line with its usual monthly practice, it has not yet seen the scheduled release of 1 billion XRP from escrow at the time of publication. This pattern of delayed releases has played out several times throughout the year, with the funds ultimately becoming available at later dates.

For instance, last month, Ripple first moved 1 billion XRP tokens and locked up 700 million tokens on Nov. 1. However, the escrow system did not release the scheduled 1 billion tokens until Nov. 3, bringing the net outflow from the escrow to 300 million XRP. This month appears to be following the same pattern.

XRP Price Situation

Meanwhile, these movements come at a time when XRP price is struggling alongside the rest of the crypto market. Following a two-day downtrend that culminated in a 7.93% drop between Nov. 30 and Dec. 1, XRP now changes hands at $2.01, dangerously close to losing the $2 mark. It has since dropped an extra 0.66% this morning despite the escrow lockup.

XRP Posts Largest Weekly Inflows Ever as Crypto Funds Rally on Fed Rate-Cut Hopes

Abdulkarim Abdulwahab
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0
XRP Posts Largest Weekly Inflows Ever as Crypto Funds Rally on Fed Rate-Cut Hopes

Crypto investment products saw a major comeback last week, with $1.07 billion flowing in, led by XRP, following a month of heavy withdrawals.

Investors are growing more confident that the U.S. may soon cut interest rates, after remarks from FOMC member John Williams regarding the current restrictive monetary policy.

This inflow reverses the trend of the past four weeks, which saw $5.7 billion leave digital asset ETPs. Even during the quieter Thanksgiving week, when trading volumes dropped from $56 billion to $24 billion, inflows returned across major markets.

XRP Posts Its Largest Weekly Inflows Ever

Interestingly, XRP led the market with its largest weekly inflow on record, attracting $289 million. CoinShares noted that XRP’s six-week streak of inflows now equals 29% of its total assets under management.

Notably, the surge is fueled by momentum from the newly launched U.S. spot XRP ETFs from Canary Capital, Grayscale, Bitwise, and Franklin Templeton. Additionally, 21Shares is joining the trend this week, with its AUM now exceeding $680 million.

This ongoing performance places XRP ahead of several other major altcoins. It confirms strong institutional demand for the fourth-largest crypto asset.

Bitcoin and Ethereum Also See Strong Demand

Meanwhile, Bitcoin recorded $461 million in new inflows as investors reversed bearish positions. Short-Bitcoin products, which profit when BTC falls, saw $1.9 million in outflows, indicating that traders are stepping away from bets on further price declines.

Ethereum followed a similar upward trend with $308 million in inflows, reflecting renewed investor appetite after weeks of weakness.

Flows by Region

As usual, the United States led global inflows with $994 million, even during a holiday-shortened trading week. Other notable markets included Canada with $97.6 million in inflows and Switzerland with $23.6 million in new investment. Germany stood out as one of the few regions posting outflows, losing $57.3 million.

Cardano Suffers Heavy Outflows

While XRP surged, not all altcoins enjoyed the same institutional enthusiasm. Cardano (ADA) saw significant outflows of $19.3 million, equal to 23% of its assets under management. Other altcoins showed mixed results.

Overall, the data suggests that investors are positioning early for a potential Federal Reserve policy shift. With expectations rising for a December rate cut, institutional money is flowing back into digital assets, and XRP, in particular, is one of the primary beneficiaries.

The Binance Reserve Ratio Drops to a New All-Time Low—Here’s Why Bitcoin Could Rally

Elendu Benedict
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The Binance Reserve Ratio Drops to a New All-Time Low—Here’s Why Bitcoin Could Rally

This Binance stablecoin indicator has just flashed a major buy signal for Bitcoin, even as its price corrects further on Monday.

CryptoQuant data drew the crypto community’s attention to this historically bullish event in a December 1 post. It shows that while users are panicking over the recent Bitcoin price decline, whales with unprecedented stablecoin firepower are preparing to scoop up the premier asset in large numbers.

Notably, Bitcoin continues to struggle to sustain an uptrend. After an optimistic rally to $93,000 last week, the digital asset lost momentum again, dropping 5% today to trade at $85,970 at the time of writing.

Bitcoin-to-Stablecoin Reserve Ratio Smashes 2018 Lows

The analysis, originally from CryptoOnChain, shows that Binance’s reserve ratio has dropped below its 2018 historical low, reaching new all-time lows. This reserve in question is the Bitcoin-to-Stablecoin Reserve Ratio, a metric that compares the total supply of BTC on exchanges to that of stablecoins.

Specifically, it indicates that the supply of Bitcoin to stablecoin on Binance has crashed to 1.088. The analytical exposition identified that such a downtrend could lead to bullish momentum for BTC, as it indicates strong idle buying power.

This suggests that the volume of stablecoins on the largest cryptocurrency exchange in the world by trading volume has hit new all-time highs relative to Bitcoin, surpassing its 6-year-old peak, indicating that whales are “locked and loaded” and could soon start deploying their stablecoins to accumulate Bitcoin.

BTC Always Rallies When This Happens

Meanwhile, CryptoOnChain presented a chart to highlight how bullish this is for Bitcoin. Per the chart, BTC usually rallies whenever the Bitcoin-to-Stablecoin Reserve Ratio on Binance drops to a new low.

Binance Bitcoin/Stablecoin Reserve Ratio
Binance Bitcoin/Stablecoin Reserve Ratio

For context, the chart shows a drop in early 2020, which preceded BTC’s recovery from around $9,000 to its 2021 peak of $69,000. Another decline in July 2022 and January 2023 catalyzed minimal upticks for the cryptocurrency, while a similar event in March 2023 led it to a break above its 2021 high to unprecedented prices.

Notably, the last occurrence was around April’s low of $74,441. Bitcoin also rallied nearly 70% to its October all-time high of $126,220 before the recent downturn. With stablecoin liquidity on Binance hitting unprecedented levels, Bitcoin could record an impressive bullish reversal to even greater heights.

The analysis comes at a time when the uncertainty around the crypto market swells. Veteran analyst Peter Brandt highlighted in a tweet that Bitcoin could revisit a green zone between $70,000 and mid-$40,000. However, this analysis suggests this may not be the case for the apex cryptocurrency.

Swiss Supermarket Spar Launches Nationwide Bitcoin Payments

Lele Jima
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0
Swiss Supermarket Spar Launches Nationwide Bitcoin Payments

Swiss Supermarket giant Spar has introduced Bitcoin and cryptocurrency payments across its retail network.

The feature is available through the company’s new mobile app and supports more than 100 cryptocurrencies.

Rollout Follows Successful Pilot Program

DFX Swiss announced the launch on X (formerly Twitter) today, confirming that Spar integrated its OpenCryptoPay system into the app to enable seamless crypto transactions. The rollout marks the first countrywide crypto payment system in Switzerland’s grocery sector.

The expansion follows a months-long pilot supported by DFX Swiss and Binance Pay. The test allowed Spar to assess customer interest and operational stability before extending the service nationwide.

Zug Trial Marked the Starting Point

The pilot began in Zug, where Spar’s local branch became the first to accept Bitcoin through the Lightning Network using OpenCryptoPay. The positive response encouraged the retailer to extend the test to a second store in Kreuzlingen only a few days later, reinforcing Spar’s confidence in scaling the system.

By August, Spar deepened its expansion by partnering with Binance Pay. This collaboration brought support for over 100 cryptocurrencies, including widely used euro- and dollar-backed stablecoins. Customers using Binance Pay also benefited from gas-free transactions, which helped simplify the payment process.

At the time, Spar Switzerland’s managing director, André Scherrer, stated that crypto payments could reduce merchant commission fees by as much as two-thirds relative to traditional card transactions.

Crypto Use Continues to Grow in Switzerland

Spar’s expansion aligns with Switzerland’s broader shift toward real-world crypto usage. According to BTC Map data, more than 800 Swiss businesses now accept Bitcoin. This, in turn, reflects steady local support for digital currencies.

Cities such as Zug and Lugano have played a central role in advancing this trend. For instance, Zug introduced Bitcoin and Ethereum tax payments in 2021, while Lugano added Bitcoin and USDT for municipal services in 2023. Together, these initiatives have helped establish Switzerland as one of Europe’s leading crypto hubs.

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