- Lugano has adopted Bitcoin and Tether (USDT).
- The cryptocurrencies can be used for various payments to the city.
- The adoption is part of Luganoโs โPlan Bโ to drive financial innovation.
The Swiss city of Lugano has expanded its payment options for various public services by including cryptocurrencies Bitcoin (BTC) and Tether (USDT).
Although inhabited by a relatively small population of about 62,792 people, Lugano is Switzerlandโs third-most important financial center after Zurich and Geneva and is a hub for fintech innovation.
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The city mainly derives its revenue from international finance and now joins the race to become a hub for crypto and blockchain technologies.
Lugano Adopts Bitcoin and USDT for Service Payments
On December 5, Lugano announced a pioneering initiative that allows city residents to pay tax invoices and other community fees using Bitcoin and USDT via a seamless and fully automated process on Bitcoin Suisse.
โWhile cryptocurrency payments in Lugano were reserved for transactions made on the City's online portal, Lugano is now extending this possibility to all its invoices, regardless of the nature of the service or the amount invoiced,โ the statement read.
Per the statement, the development is part of Luganoโs โPlan Bโ initiative, a collaborative effort with Tether to leverage Bitcoin technology in transforming the cityโs financial system. The plan aims to integrate blockchain and BTC into various aspects of daily life in the city.
Bitcoin Suisse Chief Product Officer Armin Schmid lauded the move, noting that integrating crypto payments is common in many Swiss cities.
โIt is great to see that more and more Swiss municipalities are offering payments in cryptocurrencies as an option available to both citizens and companies, complementing traditional payment methods such as post-office counters and e-banking platforms,โ Schmid stated.
Lugano residents can scan their city-issued invoices on the Swiss QR-Bill solution and make payments using crypto from their preferred mobile wallets.
Read more about Luganoโs โPlan Bโ:
Lugano Plan B: Inside the Crypto Capital
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