Zurich, 2nd March 2018: Degussa Goldhandel AG, based in Zurich, is the first precious metal trader in Switzerland to accept cryptocurrencies as means of payment. Due to the increasing demand, particularly from institutional investors, for the ability to reallocate digital currency stocks to physical gold bars and other precious metals, these clients now have the option to pay at Degussa with Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). Portfolio managers, family offices and other larger investors, in particular, have shown a growing interest in the new service for some time.
“Due to numerous inquiries from large-scale investors, who own or manage crypto-money and would like to diversify the portfolio with the “safe haven” gold, we decided to accept digital currencies and thus to offer investors additional investment options”, states Andreas Hablützel, CEO of Degussa. “We believe cryptocurrencies and the associated blockchain technology is characterised by freedom, security and independence – values which we generally associate with Switzerland as a financial centre, as well as with gold”, continues Hablützel.
In the second phase, probably starting mid-year, private customers will also have the option to use cryptocurrencies to pay for precious metals in the online shop of Degussa Switzerland. Degussa AG already offers cryptocurrency owners the option to store their crypto codes (paper wallets), which are necessary for a crypto transaction, securely in a safe deposit box outside the banking sector.
Digital currencies and the related economic sector are gaining in significance in Switzerland, as can be observed, for example, in the so-called “Crypto Valley Zug”, and are also receiving political support.
Precious metals as well as cryptocurrencies differ in comparison with legal tender, as they cannot be produced in any required number and also are independent from economic policy interventions.
Degussa Goldhandel AG Switzerland is part of the Degussa Group. Degussa Goldhandel GmbH in Germany, Degussa Metales Preciosos in Spain and the London precious metal trader Sharps Pixley also belong to this group.
More information available at www.degussa-goldhandel.ch.
Bildquelle: Degussa Goldhandel
The name Degussa is synonymous with quality and durability like no other in the world of precious metals. Since 2012, the newly founded Degussa Goldhandel AG has been active on the Swiss precious metals market with branches in Zurich and Geneva as well as an online shop. As an internationally operating company handling gold, silver and platinum metals, Degussa has become the market leader among bank-independent precious metal traders in Europe.
Furthermore, Degussa maintains eleven branches in Germany as well as sites in Madrid and London. In addition to bars, coins and numismatics and gold gifts, customers have online shops and services available to them, such as, for example, buying old gold and the secure storage of valuables in a personal safe deposit box.
The Degussa Group achieved a customer turnover of around two billion Swiss francs in 2017. The number of employees increased from 150 in 2016 to over 160 in 2017.
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