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Swiss railway service to start selling bitcoin from next month
SBB, the operator of a national railway service in Switzerland, has announced that customers will be able to obtain bitcoin through its ticket kiosks from 11 November.
The railway operator is working with local payments startup Sweepay. To use this service, customers will need a QR-code enabled bitcoin wallet and a valid Swiss mobile phone number. They will be able to buy between CHF 20 and CHF 500, CoinDesk reported.
“From 11 November 2016, customers will be able to obtain Bitcoin at all SBB ticket machines. SBB is a distribution partner of SweePay and is providing the ticket machines as a distribution channel”, the announcement reads.
SBB said that it has been testing whether there is a market in Switzerland for selling the digital currency Bitcoin for the past two years.
"Until now, there have only been limited opportunities to purchase bitcoin in Switzerland. With over 1,000 ticket machines, SBB has a dense distribution network that is available round the clock and is not only suitable for purchasing tickets, but also allows additional services to be obtained”, it added.
According to CoinDesk, there will be limits to service, which includes a reported CHF 5000 annual cap on purchases, a 6% transaction fee to be charged by SBB at the time of purchase. Also, SBB would not accept bitcoin payments for tickets.