The Swiss City of Lugano Now Accepts Bitcoin and Tether for Municipal Payments
The city of Lugano in Switzerland is making it easier for its citizens and businesses to pay for municipal services and taxes by accepting cryptocurrency payments. In an official announcement, the local administration revealed that Bitcoin and Tether can now be used as a means of payment for taxes and all other community fees.
This initiative is made possible through the Swiss institutional-grade cryptocurrency platform, Bitcoin Suisse. Residents of Lugano can pay their invoices by scanning the QR code on the invoice and using their preferred mobile wallet and selected cryptocurrency.
Plan B: Transforming Lugano’s Financial System
Lugano’s decision to accept cryptocurrencies is part of a larger collaboration with Tether called Plan B. The goal is to leverage Bitcoin technology to transform the city’s financial system. Bitcoin Suisse serves as the technical partner, providing an integrated payment solution that allows tax collection and other municipal service invoices to be paid with Bitcoin and Tether.
Switzerland’s Crypto-Friendly Cities
Lugano is not the only city in Switzerland embracing cryptocurrencies. The canton of Zug started accepting Bitcoin and Ether for tax payments in 2021, while Zermatt introduced the option to pay taxes with Bitcoin in partnership with Bitcoin Suisse in 2020.
Hot Take: Lugano Paves the Way for Crypto Adoption
Lugano’s move to accept Bitcoin and Tether for municipal payments demonstrates the city’s commitment to embracing cryptocurrencies and blockchain technology. By providing a convenient and secure payment option, Lugano is paving the way for broader crypto adoption. As more cities around the world follow suit, we can expect cryptocurrencies to become increasingly integrated into our everyday lives, transforming traditional financial systems.
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