Swiss City of Lugano Now Accepts Bitcoin and Tether for Local Payments
Enhancing Adoption of Bitcoin in Lugano
The Swiss city of Lugano is taking a significant step towards the adoption of Bitcoin (BTC) by allowing its citizens and companies to pay for municipal services and taxes using cryptocurrency. In an official announcement on December 5th, the local administration declared that it will now accept cryptocurrency payments, including Bitcoin and the stablecoin Tether (USDT), for taxes and other community fees.
Lugano has partnered with the Swiss institutional-grade cryptocurrency platform, Bitcoin Suisse, to enable this automated payment process. This means that residents and companies in Lugano can now pay all local invoices using cryptocurrencies, regardless of the nature of the service or the invoiced amount.
How It Works
To pay taxes or services with Bitcoin in Lugano, residents simply need to scan the Swiss QR-bill code on the invoice using their preferred mobile wallet and select the cryptocurrency they wish to pay with. This streamlined process makes it convenient for individuals and businesses to make their payments using digital assets.
Plan B: Transforming Lugano’s Financial System
Lugano’s recent move to accept Bitcoin and Tether payments is part of an initiative called Plan B. In collaboration with Tether, the city aims to leverage Bitcoin technology to revolutionize its financial system. Bitcoin Suisse is supporting Lugano in this endeavor by acting as the technical partner and facilitating integrated payment solutions. This partnership allows for the acceptance of Bitcoin and Tether for tax collection and other invoices related to municipal services.
Switzerland’s Adoption of Bitcoin
Lugano is not the only city in Switzerland actively embracing Bitcoin for payments and exploring blockchain technology. The Swiss canton of Zug started accepting Bitcoin and Ether (ETH) for tax payments from local companies and individuals in 2021. Additionally, Zermatt, a municipality in the canton of Valais, partnered with Bitcoin Suisse in January 2020 to offer the option of Bitcoin tax payments.
These initiatives demonstrate Switzerland’s progressive approach towards cryptocurrencies and its willingness to experiment with blockchain technology in various sectors.
Overall, the acceptance of Bitcoin and Tether as payment options in Lugano is a significant development that further promotes the mainstream adoption of cryptocurrencies. By providing a convenient and secure payment method for taxes and other local services, Lugano is paving the way for other cities and communities to embrace digital assets as a legitimate form of payment.