In the Swiss city of Lugano, BTC and USDT will replace fiat currency
The city of Lugano, located in the canton of Ticino (Switzerland), will make bitcoins, the Tether stablecoin and the local LVGA Points token popular means of payment.
The population of the city, which is home to 62 thousand people, will soon be able to shop, pay for various services, and also pay taxes with cryptocurrencies. Thus, the city will become a major cryptocurrency center.
To do this, the city administration decided to create the necessary infrastructure for the widespread acceptance of digital currencies. The authorities will be assisted in this by a partnership with USDT Tether Operations Limited. This organization is a stablecoin issuer and has the necessary experience to develop a project of this magnitude.
Authorities report that a fund will also appear in Lugano to fund developers to create blockchain services. True, unlike El Salvador, the local currency, the Swiss franc, will still remain legal tender in this city.
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