The Latest in Lugano’s Crypto Integration
The city of Lugano in Switzerland has recently updated its MyLugano payment app to include Polygon (MATIC) PoS. This update allows the app’s 30,000 users to access a multichain cryptocurrency wallet through a specialized section designed for more experienced users. The first cryptocurrency integrated is ckBTC, described as an innovative form of digital asset based on the Internet Computer Protocol (ICP) technology.
Additionally, MyLugano provides access to various dApps and a loyalty circuit using LVGA, Lugano’s own stablecoin. In line with its crypto-focused initiative, Lugano has also launched a new non-fungible token (NFT) collection that transforms physical artwork into real flowers over time.
Europe’s Growing Crypto Landscape
European countries like Switzerland and Liechtenstein are emerging as crypto hubs. For instance, the Zug canton in Switzerland allows citizens to pay taxes using Bitcoin. Liechtenstein introduced cryptocurrency legislation in 2019 and plans to facilitate Bitcoin payments.
Beyond the Alps, Germany has seen increased interest in crypto adoption with banks seeking crypto custody licenses. The European Central Bank is also developing a digital euro, signaling growing interest in cryptocurrencies across the continent.
Hot Take: Europe’s Shift Toward Cryptocurrency Adoption
Europe’s embrace of cryptocurrencies is evident in the initiatives taken by cities like Lugano and countries like Switzerland and Liechtenstein. As more European nations show interest in digital assets and blockchain technology, the continent is poised to become a significant player in the global crypto landscape.
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