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Lugano, the Swiss City of Fintech, Embraces Bitcoin and Tether

Lugano, a city in southern Switzerland known for its financial and technological innovation, has taken a bold step towards embracing the future of money by integrating Bitcoin (BTC) and Tether (USDT) as payment options for various public services.

The city announced on December 5 that it has partnered with Bitcoin Suisse, a leading crypto service provider, to enable its residents to pay tax invoices and other community fees using BTC and USDT via a simple and automated process.

The initiative is part of Lugano’s “Plan B”, a visionary project that leverages the power of Bitcoin technology to transform the city’s financial system and integrate blockchain and BTC into various aspects of daily life in the city.

Lugano is not the first Swiss city to adopt crypto payments, as others such as Zug, Zermatt, and Chiasso have already done so.

However, Lugano stands out for its ambition and scope, as it extends the possibility of paying with crypto to all its invoices, regardless of the nature of the service or the amount invoiced.

To pay with crypto, Lugano residents can simply scan their city-issued invoices on the Swiss QR-Bill solution and choose their preferred crypto wallet to complete the transaction. The payment is then converted into Swiss francs by Bitcoin Suisse and transferred to the city’s account.

The city claims that this option offers several advantages, such as convenience, speed, security, and transparency, as well as lower transaction fees compared to traditional payment methods.

Lugano’s mayor, Marco Borradori, expressed his enthusiasm for the initiative, stating that it is a “concrete example of how Lugano is a city open to innovation and attentive to the needs of its citizens and businesses”.

He also thanked Tether, the company behind the USDT stablecoin, for its support and collaboration in the “Plan B” project, which he described as “a strategic vision that aims to make Lugano a leading city in the field of financial innovation”.

Lugano’s “Plan B” is not only about crypto payments but also about creating a vibrant ecosystem of innovation and education around Bitcoin and blockchain.

The city plans to host events, workshops, and courses to raise awareness and foster knowledge and skills in these fields.

Source: DailyCoin

Victor Chijoke

Passionate about blockchain, and the decentralized internet. A writer in the morning, goalie in the evening. The aim is to keep my readers informed about the ever-evolving world of web3 with a unique blend of expertise and storytelling.

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