Lugano, Switzerland, Has Struck A Collaboration With Stablecoin Issuer Tether

Lugano, Switzerland, has struck a collaboration with stablecoin issuer Tether in order to establish BTC, USDT, and Lugano&39s homegrown LVGA Points as potentially legal tender within the city.

The measure goes well beyond the acts of a handful of other Swiss municipalities that have been readily accepting crypto for tax payments for some time. Much like El Salvador, Lugano aims to have all of its companies smoothly utilize crypto for daily transactions as well as allow crypto for taxation purposes.

In related news, Mayor Michele Foletti of Lugano stated that the recent agreement with Tether will go a long way in assisting the city scale up its fintech activities and future growth.

Mayor Foletti added that in recent years, Lugano has been deeply engaged with crypto and blockchain technology, which includes the work on LVGA Points citizen payment tokens, NFTs, and various other blockchain advancements.