The Plan₿ Foundation, a joint initiative between the Swiss city of Lugano and stablecoin issuer USDT, has announced a collaboration with a crypto payment processor to bring Bitcoin, Tether and LVGA payments to Lugano – allowing citizens to use their crypto wallets at McDonald's and other merchants.
Users can use their wallets at these locations to pay with Bitcoin by transacting directly over the Lightning Network, as well as USDT and with the local LVGA token. The city also announced that it will work to attract more business within the next 25 days. By the end of 2023, the Plan₿ Foundation hopes to allow over 2,500 merchants to accept crypto.
In March, Paolo Ardoino, chief technology officer at Tether, said during an event organized by Lugano city officials that Bitcoin and Tether would become “de facto legal currency” in the southern Swiss city by partnering. with Tether to become the “Bitcoin Capital of Europe”.
Some of the products and services highlighted at the time, which citizens could pay for with cryptocurrencies, include all utilities, personal and corporate city taxes, ID and passport issuance fees, naturalization fees, public school tuition, and rent for office spaces. events.
To achieve the goals, two funds were created: an investment pool for cryptocurrency startups and a fund to encourage adoption among businesses in the city.
The aim of Plan₿ is to scale Bitcoin and stablecoin adoption across Lugano and “accelerate the use and leverage of Bitcoin technology as a foundation for transforming the city’s financial infrastructure.”