Insurance giant AXA to start bitcoin trading

Interest in bitcoin is growing worldwide, with its price apparently not going below $60.000. The news from the cryptocurrency market does not stop creating sensation, while another news, this time from Switzerland, is coming to “shake the waters”.


Insurance giant AXA with its announcement informs us that it now accepts bitcoin payments from its customers.


It is the first insurance company of all levels to make such a move, which is part of its strategy to meet the demand from a portion of its customers for a choice of payment method with the emblematic cryptocurrency.


According to a company survey conducted in 2019, one third of respondents owned or intended to acquire cryptocurrencies. During 2020, perhaps with the “help” of the COVID-19 pandemic, there was an increase in global interest in cryptocurrencies. This increase in interest was also the catalyst for the insurance giant to finally decide to include bitcoin as a payment option for its customers. It is worth mentioning that the infrastructure for bitcoin payments is provided by the payment provider Inapay.


According to Claudia Bienentreu, Head of Open Innovation at AXA in Switzerland:


“This is AXA’s response to the growing demand from its customers for payment alternatives, with new technologies playing an even bigger role.”


The flagship cryptocurrency was introduced in early April for the following products: Auto Security, Home Security, Condo Security, My Security, and Business Security. So far, no cryptocurrency other than bitcoin has been added to the list of payment options, with the company stating that the introduction of other cryptocurrencies will depend on the experience gained with bitcoin acceptance.


As you can imagine, the list of companies that accept bitcoin as a payment method is constantly growing. For example, Acker, the oldest wine trading company in the US, also announced its decision to accept bitcoin and other cryptocurrencies for purchases, a few days ago.