McDonald’s and other companies will start receiving cryptocurrency payments in Lugano starting this week. This initiative is part of the agreement signed between the global payment platform GoCrypto and the Plan Foundation, established by Tether Limited and the picturesque Swiss city.
Lugano residents will now be able to pay for goods and services in Tether (US dollars), Bitcoin (BTC), and LVGA, the city’s official token.
The goal of Plan ₿ is to drive widespread adoption of BTC and stablecoins across the city. Tether said that cryptocurrencies will positively participate in all business sectors and in every aspect of the daily lives of Lugano residents.
The foundation seeks to accelerate the use of cryptocurrencies and leverage Bitcoin technology to advance the transformation of the city’s existing financial infrastructure.
Tether CTO Paolo Ardoino explained that at the beginning of the year, a memorandum of understanding was built between Lugano and Tether “to launch a strategic collaboration through several initiatives, including to help local businesses integrate their existing payment services with the permitted stablecoins and Bitcoin.”
He added that the two sides are working to ensure the existence of the necessary technological infrastructure to support joint projects. “Today we are watching all this hard work pay off,” he said.
Payments in Bitcoin Lightning, USD ₮ and LVGA
From Tuesday, the GoCrypto payment service will be available to about a dozen merchants in Lugano, including McDonald’s stores and many art galleries and other commercial establishments.
City residents can make payments in Bitcoin Lightning, USD₮, and LVGA through their wallets. Meanwhile, the authorities in Lugano are promoting the integration of other companies into the cryptocurrency payment program.
During the next day Plan ₿ Forum in LuganoThe city expects to receive more than 2,000 participants. The Bitcoin Conference will present many of the most relevant figures in the crypto industry on October 28 and 29.
The goal of the Plan ₿ Foundation is that by the end of next year, about 2,500 companies in the city will accept payments in Bitcoin, Tether and LVGA.
McDonald’s and other large food and apparel chains are taking advantage of digital funding and metaverses to try to win over the next generation of shoppers.