Lugano, the Swiss city, has officially embraced Bitcoin [BTC] and Tether [USDT] as legitimate forms of payment for taxes and various fees. The municipality is set to enforce this decision through the reputable Swiss institutional-grade cryptocurrency platform, Bitcoin Suisse. This development allows both individuals and businesses to settle all local invoices, regardless of service type or invoiced amount, using Bitcoin.
According to the announcement blog post, Lugano residents now have the option to pay taxes and services with Bitcoin by utilizing the Swiss QR bill. This process involves scanning the code on the invoice and making payments through their preferred mobile wallet, using the selected cryptocurrency.
Switzerland has earned a reputation for its crypto-friendly stance, and this recent move is rooted in a partnership established in 2021 involving Lugano Mayor Michele Foletti, Tether and Bitfinex CTO Paolo Ardoino, and other leaders associated with PlanB. Launched in September 2021, PlanB aims to position Lugano as a hub for crypto and blockchain innovation.
In addition to announcing $50 million in dedicated startup funding for the cryptocurrency and blockchain sector, the initiative disclosed plans for a 16-office blockchain hub and co-working space in central Lugano, scheduled to open in March 2024. This centralized space will serve as a hub for companies, developers, and entrepreneurs in the cryptocurrency and blockchain space.
Leaders emphasized Lugano’s commitment to becoming a role model for cryptocurrency and blockchain innovation, with the next PlanB conference scheduled for October 2024, marking the third anniversary of the initiative’s launch.
Tether Spearheads Lugano’s Crypto Adoption
As part of the PlanB initiative’s objectives, Tether, a prominent player in stablecoin technology, is set to create a noteworthy intersection of sports legacy and digital innovation by partnering with the esteemed Swiss football club FC Lugano. FC Lugano players will display the Plan ₿ symbol during international games, and the partnership goes beyond symbolism, offering football enthusiasts the chance to purchase team merchandise and other stadium items using Bitcoin, Tether [USDT], and LVGA.
Speaking on the significance of this alliance, Paolo Ardoino, the CTO of Tether: “This collaboration not only underscores our commitment to the vibrant Lugano community but also signifies our belief in the power of crypto to drive positive change locally and globally.”