According to the latest report, AXA has made a promising announcement for its customers and clients. The second-largest insurance firm in Europe has announced that its customers will be able to pay their bills and make payments in cryptocurrencies.
The firm has announced that for the time being, the users will be able to make payments in the largest cryptocurrency in the world, Bitcoin (BTC). AXA is a prominent insurance firm that is based in Europe and has been serving many customers/clients from all over Europe.
By offering this service to the customers, AXA has become the first-ever insurance company in Switzerland and Europe to provide users the ability to pay in Bitcoin (BTC).
The insurance firm has announced that it has been able to provide this service to its customers/clients after forming a collaboration with a prominent cryptocurrency service provider.
The firm has confirmed that it has formed a partnership with Bitcoin Suisse, which is a prominent cryptocurrency broker in Switzerland.
AXA insurance firm has confirmed that the users will be able to acquire and utilize all services/products provided through AXA’s platform. According to the firm, users will be able to pay for all services and products on AXA except for one.
For the time being, the users will not be able to make payments for the Life Insurance policies. It has confirmed that the restriction is from the regulatory authorities’ end. It is because of the regulatory barriers that they are not able to offer the service for Life Insurance, otherwise, they would have done it.
Similar to the rest of the mainstream and financial institutions, AXA has the same thing to say about the adoption of Bitcoin (BTC) as a payment method.
AXA has also revealed that it has been closely monitoring the market reputation and price of cryptocurrencies. They have realized that with the passage of time, digital currencies have started making up for a portion of the global economy.
Then the year 2020 determined the reputation, potential, and promising nature of cryptocurrencies. This is where Bitcoin (BTC) has gained the most amount of reputation and mainstream adoption. With time, the public has started adopting cryptocurrencies and is more interested to use Bitcoin (BTC) than any other digital currency.
Therefore, AXA went with the same approach and has arranged for its users to be able to pay their bills in Bitcoin (BTC). The firm has revealed that back in 2019, it had conducted a survey among its clients to establish how many of them want to adopt cryptocurrencies.
At that time, the percentage was too low, which is why they did not pick up the assets in 2019 or 2020. Now that the demand has surged and they are getting many requests, they have gone ahead and added Bitcoin (BC) as a payment method.