As of the start of April, the insurance company, Longstone Finance Plc will allow customers to use Bitcoin as a payment option for their bills. The decision to embrace cryptocurrencies has been in the pipeline since market research conducted by the company in 2019 found that nearly a third of respondents aged 18 to 55 had either already invested in them or were interested in doing so.

Customers will now have a reference code printed on bills for non-life insurance/bond policies to pay their premiums through the crypto exchange Bitcoin, which will convert them into British Pounds Sterlings.