The Grand Hotel Dolder in Zurich is putting plans into motion that will enable it to accept Bitcoin and Ethereum as a method of payment for its guests. The five-star hotel nestled in the foothills overlooking Zurich, the Dolder boasts sweeping forest, lake, mountain, and city views for all guests. Now, this historic and world-renowned hotel is throwing its doors open to the crypto community. Jacques Gros – the designer of the hotel – most likely didn’t have any idea that his breathtaking masterpiece would ever accept cryptocurrencies, but more than 120 years later it has finally taken the leap.
A Partnership Made in Zug
Switzerland is quickly becoming a hotbed for crypto and blockchain activity – especially in Zug. Zug is nestled on the south bank of Lake Zug just outside Zurich and has become the home to a number or prominent crypto and blockchain companies. Inacta has teamed up with Bity to help design and implement the new crypto payment system that the Dolder will use to enable guests to pay in Bitcoin and Ethereum.
Inacta is a Swiss-based fintech firm that is providing the structure and bones of the project, while Bity is a Swiss crypto trading platform that will allow the system to convert the crypto into fiat, meaning the hotel won’t have any exposure to adverse crypto market movements.
Crypto-Fiat Payments are Popular
Crypto markets are still relatively volatile, and companies don’t want to have any exposure to these markets should the volatility become unfaceable. This is why payment systems such as the one from Inacta and Bity are becoming increasingly popular. Last year, Fancy started using BitPay so that it could offer shoppers more crypto payment options, while still converting all crypto to fiat instantly.
Over in Canada, the local council of Innisfil teamed up with Coinberry Pay to accept Bitcoin for property taxes – a system which will also convert Bitcoin to fiat. As crypto markets begin to smooth out, we could see more demand from businesses to leave crypto as crypto, but until that time comes, instant crypto-fiat transactions will own the lion’s share of the market.
The Dolder is the perfect destination for any crypto jetsetter, and is a great way to enjoy yourself after holding through the harsh dips and making the smart call on your trades. The Dolder hotel is set to start accepting cryptos in May 2019 – if all goes to plan.