Swiss City Lugano Integrates BTC and USDT for Tax Payments

Lugano has taken a pioneering initiative to integrate Bitcoin and USDT payments in tax collection and community service delivery.

Rich man in Lugano has bitcoins falling out his suitcase.
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  • Lugano has adopted Bitcoin and Tether (USDT).
  • The cryptocurrencies can be used for various payments to the city.
  • The adoption is part of Lugano’s “Plan B” 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 Switzerland’s 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.

“While 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,” the statement read.

Per the statement, the development is part of Lugano’s “Plan B” initiative, a collaborative effort with Tether to leverage Bitcoin technology in transforming the city’s 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.

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“It 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,” 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 Lugano’s “Plan B”:
Lugano Plan B: Inside the Crypto Capital

Stay updated on why Coinbase targeted Ireland for EU expansion:
Coinbase Targets Ireland as Preferred Hub for EU Expansion 

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

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Brian Danga

Brian Danga, a Kenyan crypto reporter, is dedicated to delivering breaking news and updates from the cryptocurrency world. With a background as a Web3 writer and project manager, he recognizes the importance of unbiased reporting. Holding an LLB degree from the University of Nairobi, Brian's analytical skills contribute to his accurate news reporting. His personal interests include cooking, watching documentaries, reading, and engaging in intellectual discussions.