Introduction
The Swiss city of Lugano is making it easier for its residents and businesses to embrace Bitcoin by accepting cryptocurrency as payment for municipal services and taxes. This move is part of Lugano's efforts to revolutionize its financial system and leverage Bitcoin technology.
Bitcoin and Tether Accepted
Lugano announced on December 5th that it now accepts Bitcoin and Tether, a major stablecoin, as a means of payment. Both citizens and companies in Lugano will have the option to pay all local invoices using these cryptocurrencies, regardless of the nature of the service or the amount invoiced.
How It Works
Residents of Lugano can pay taxes and services with Bitcoin through the Swiss QR-bill. They simply need to scan the code on the invoice and pay using their preferred mobile wallet and the selected cryptocurrency.
Collaboration with Tether
Lugano's adoption of cryptocurrencies is part of its collaboration with Tether, known as Plan B. Bitcoin Suisse, a Swiss institutional-grade cryptocurrency platform, supports Lugano in this initiative by serving as the technical partner in the integrated payment solution. This collaboration aims to transform Lugano's financial system using Bitcoin technology.
Other Blockchain Initiatives in Lugano
Lugano has previously implemented blockchain-based solutions, including the MyLugano app, LVGA Points payment token, the Lugano digital franc, and the 3Achain blockchain infrastructure. These initiatives demonstrate the city's commitment to embracing new technologies and innovation.
Switzerland's Bitcoin Adoption
Lugano is not the only city in Switzerland that has been actively adopting Bitcoin and experimenting with blockchain technology. The Swiss canton of Zug started accepting Bitcoin and Ether for tax payments in 2021, while Zermatt, a municipality in the canton of Valais, introduced the Bitcoin tax payment option in partnership with Bitcoin Suisse in January 2020.
Conclusion
Lugano's decision to accept Bitcoin and Tether as payment for taxes and services is a significant step in the city's journey towards embracing cryptocurrencies. This move not only simplifies transactions for residents and businesses but also positions Lugano as a trailblazer in the adoption of Bitcoin technology.
