Lugano wants to democratize the use of cryptocurrencies
The Swiss city of Lugano will enable its citizens to pay their taxes in cryptocurrencies through a partnership with Tetherthe company that powers the famous stablecoin USDT.
In addition to this first step, the Swiss city aims to extend the acceptance of cryptocurrencies for payment goods and services offered in his city.
At the same time, the city has already worked with more than 200 merchants to drive Bitcoin adoption (BTC) and payments via the Lightning Network.
In this sense, Lugano initiated the “ Plan ₿ » which involves the creation of a hub in the heart of the city to foster the development of Bitcoin and blockchain-related startups.
Here is a video showing all the services within Lugano that can now be paid for in crypto-assets:
#lugano #Plan B announced #bitcoin #tether and #luga (CHF stablecoin) as legal tender.
Here are all the things that you can pay for within a few months in the city.
??? pic.twitter.com/xkNA9Sp4Xw—Paolo Ardoino (@paoloardoino) March 3, 2022
In addition, this plan also provides the creation of two investment funds. The first will be endowed with $3.26 million that will be used to drive local adoption of Bitcoin,USDTand LVGAthe stablecoin (backed by the Swiss franc) of the city.
As for the second fund, it will reach 110 million dollars and will be dedicated to startups related to cryptocurrencies and blockchain wishing to settle in Lugano.
Finally, the last aspect of this project is to make learn about this technology from academia. This is why Lugano plans to create a specialized study program on Bitcoin and the Lightning Network in order to increase the skills of young students in these new technologies.
“Lugano is investing in its future. In recent years, we have already implemented blockchain-based solutions, including the MyLugano app and its payment token LVGA Points, the digital Lugano franc and the 3Achain blockchain infrastructure,” said the Mayor of Lugano, Michele Foletti.
? Find our presentation of the Lightning Network
Switzerland still ahead of the adoption of cryptocurrencies
The city of Lugano project is not new in Switzerland. Indeed, other cities and cantons had taken the initiative to allow the payment of taxes in cryptocurrencies.
Take, for example, the case of the canton of Zug who accepts the Bitcoin and theEther (ETH) from its taxpayers, or the city of Zermatt. However, the latter only allows the use of the king of cryptocurrencies, namely BTC.
This proves once again that the authorities Swiss people are increasingly crypto-friendlywhich makes Switzerland a host of choice for startups in the cryptocurrency industry, unlike some of its neighbors.
? To discover – The Banque de France and the Swiss National Bank are finalizing an MNBC project
Sources: Twitter accounts of Tether and Lugano
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