Swiss Lugano will use BTC, USDT and LVGA as legal tender

While at the moment almost every new report from the crypto industry concerns the invasion of Ukraine, we have received reports from Lugano, Switzerland that the citizens of this Swiss city will soon be able to pay taxes, parking, tuition or public service charges via Bitcoin, Tether or in-house. Lugano token LVGA. Tether’s chief technical officer Paolo Ardoino presented a plan detailing how the city would soon become a European crypto center, with the city’s officials actively working with Tether to create Europe’s first crypto hub.

This is a relatively interesting, but especially unexpected news. Tether plans to fund the city with 3 million Swiss francs to support the adoption in more than two hundred stores across the city, which only shows that the city is serious about these alternative means of payment. In addition, however, the company in the city is also to help finance blockchaine-based startups in the city by creating a fund of up to 100 million Swiss francs. The financial structure is said to be designed literally under the law in the state of El Salvador, which, as we know, made Bitcoin legal tender last year, which means that you will be able to pay in both national and digital currencies in this city.