Adopting Bitcoin and Tether for municipal payments

In a groundbreaking initiative, Lugano, Switzerland has embraced the cutting edge of financial technology by integrating bitcoin (btc) and Tether (USDT) into its tax payment system. Starting today, Lugano residents and businesses have the option to use these two cryptocurrencies to settle various municipal bills, including those related to property and income taxes.

This pioneering decision places Lugano as one of the first global cities to incorporate cryptocurrencies such as bitcoin and Tether for the payment of all municipal taxes and services. The city's leap into the world of cryptocurrencies is a testament to its commitment to integrating this innovative technology into everyday financial transactions.

Lugano and Tether’s Broader “Plan B” Strategy

The implementation of this cryptocurrency-based tax payment option is a key component of Lugano and Tether's broader “Plan B” strategy. This ambitious plan aims to revolutionize the city's financial infrastructure using blockchain technology, with bitcoin as the fundamental layer. The goal is to make cryptocurrencies a common tool for daily transactions such as paying taxes.

In close collaboration with bitcoin Suisse, a leading Swiss company specializing in cryptocurrency financial services, Lugano has successfully developed an easy-to-use solution for crypto transactions. bitcoin Suisse has modified the existing QR-Bill system to ensure smooth transactions using bitcoin and Tether. This improvement allows taxpayers to easily pay their dues by scanning a QR code and confirming payment through a mobile wallet application.

crypto-payments”>Armin Schmid, Product Manager in bitcoin Switzerlandexpressed excitement about helping Lugano on its journey towards leveraging bitcoin technology to transform its financial infrastructure.

Lugano's initiative is part of a growing trend in Switzerland, where several municipalities are increasingly adopting cryptocurrencies. Swiss cities and regions such as Zug, Zermatt, and the canton of Zug have already implemented similar systems, allowing crypto payments for taxes and government services.

By providing a convenient and modern way to pay taxes using digital currencies, Lugano is not only mainstreaming the use of cryptocurrencies, but is also setting a model for other cities around the world. This move marks an important milestone in blockchain adoption in Switzerland and potentially sets a precedent for other cities globally.

The city of Lugano now accepts the payment of taxes and other municipal services in bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin (btc?src=hash&ref_src=twsrc%5Etfw”>#btc) and #Tie (#USDT).

Starting today, #Lugano will accept bitcoin and Tether as a means of payment through a simple and fully automated process, using bitcoin Suisse.

Read… pic.twitter.com/hBo1Q3F7zX

— bitcoin Switzerland (@BitcoinSuisseAG) December 5, 2023

If you have ever wanted to get a new experience to survive with bitcoin, Laguna, Switzerland is a good option. There are hundreds of businesses in Laguna that accept bitcoin.

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