The Cardano blockchain has now been integrated into the DFX.swiss platform, bringing its native token ADA to retail store payments.
Cardano can now be used for payment in some SPAR stores in Switzerland
As the Cardano Foundation announced on its website, the Cardano blockchain has seen integration into DFX.swiss, a Swiss-based digital asset financial services platform.
With the integration, ADA is now part of Open Crypto Pay, the payment standard developed by DFX.swiss. “Through the Cardano integration, customers can now pay with the ADA cryptocurrency in 137 SPAR stores across Switzerland,” the announcement explained. Open Crypto Pay also allows users to use their ADA from their native wallets directly at checkout.
SPAR is a Dutch multinational franchise that licenses independently owned and operated grocery stores. There are more than 350 stores in Switzerland using the branding, but currently only 137 support payments with DFX.swiss.
According to the Cardano Foundation, Open Crypto Pay can reduce transaction fees by nearly two-thirds compared to traditional card and payment providers. “This provides not only technological innovation, but also clear economic value for retailers,” noted the non-profit organization dedicated to cryptocurrency.
DFX.swiss also provides a direct bridge to traditional banking infrastructure, allowing users to buy or exchange ADA directly into fiat currency. Cyril Tommen, CEO of DFX.swiss, said:
With Open Crypto Pay, we are demonstrating that Cardano is not only technologically advanced, but also provides real value in everyday payments – for both consumers and merchants.
ADA is now also integrated with urble, a savings platform created by Swiss FinTech Brick Towers. DFX.swiss announced a partnership with Urble in January. Ralph Hofacker, co-CEO of Brick Towers, noted:
A combination of customizable infrastructure and user-oriented applications makes it easy to implement Cardano-based deposits and payments.
ADA has declined while other digital assets have increased
Bitcoin and Ethereum witnessed bullish price action over the past week, but Cardano showed a different trajectory as the coin fell over 6% to $0.27 within the window.
Below is a chart that shows what the asset’s trajectory has been over the past month.
The price of the coin seems to have overall moved sideways in this period | Source: ADAUSDT on TradingView
ADA’s volatile price action came as large investors participated in the allocation. Over the past week, whales on the network have shed 230 million tokens (worth more than $63 million) from their holdings, as highlighted by analyst Ali Martinez in an X post.
The recent trend in the holdings of the ADA whales | Source: @alicharts on X
Featured image from Dall-E, chart from TradingView.com
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