SBB to sell Bitcoin

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Photo: Kenneth Ip / Shutterstock.com.

SBB has announced that from November 11 all its ticket machines will sell the online currency Bitcoin.

Still an unknown concept for many, Bitcoin is an online, decentralised currency that is gradually gaining acceptance around the world.

Working with distribution partner SweePay, a regulated financial intermediary with its registered office in Zug, Switzerland, SBB has been testing the market for the last two years.

Now, the company has decided to make Bitcoin available from all 1,000 ticket machines on the network.

To exchange money directly with SweePay at these ticket machines, customers will need to identify themselves using their mobile telephone number.

But there are some restrictions. The maximum transaction value allowed is CHF 500 – approximately three-quarters of a Bitcoin.

And you can’t buy SBB train tickets using your shiny new currency, it isn’t an accepted payment method by SBB.

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