On December 5, 2023, the Swiss city of Lugano announced the inclusion of cryptocurrencies Bitcoin (BTC) and Tether (USDT) for tax and other municipal fee payments.
This is part of Lugano's cooperation plans with Tether, Plan B, which aims to revitalize the city's financial system using Bitcoin technology.
Lugano is diving into the world of crypto
Before the latest developments, Lugano only allowed crypto payments directly on the city's official online portal. However, the release extends the possibility to any invoice, regardless of the type or amount.
According to the statement, Lugano citizens and companies can now pay their expenses by scanning the QR code of the bill and using their preferred mobile wallets. The two assets accepted based on the statement are Bitcoin (BTC) and Tether (USDT), giants in their respective asset classes.
Bitcoin Suisse's statement said the latest update is part of Lugano's Plan B, a collaboration with Tether to integrate BTC into daily life.
This announcement also points out Bitcoin Suisse's role in Lugano's Plan B. Bitcoin Suisse will handle the technical part of the payment solution to offer a convenient way to accept payments with BTC and USDT.
Bitcoin Suisse Chief Product Officer Armin Schmid expresses his delight in supporting Lugano in its mission to accelerate the use of blockchain technology. He said:
“It is nice to see that more and more Swiss municipalities are offering cryptocurrency payments as an alternative for citizens and companies, complementing traditional payment methods such as post office counters and e-banking platforms.”
Bitcoin Suisse emphasizes that it enjoys providing the technical infrastructure for crypto payments. In addition, it offers crypto payments to other Swiss cantons, municipalities and cities.
Switzerland is going all-in with crypto
Lugano is not the first Swiss city to go this route. The city of Zug had already started accepting Bitcoin and Ethereum for tax billing in 2021. The canton of Zug and the municipality of Zermatt have already implemented the system.
Switzerland has been a leader in the adoption of crypto assets for some time.
Last month, one of Switzerland's largest cantonal banks, St. Galler Kantonalbank, announced the official launch of Bitcoin and Ethereum trading and custody services for several customers.
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