Lugano Embraces Crypto Revolution: Bitcoin and Tether Now Accepted for Municipal Taxes

Lugano, a Swiss City, has embraced the crypto revolution by announcing the acceptance of Bitcoin (BTC) and Tether (USDT) for tax and municipal fee payments. This move is part of Lugano's collaborative initiative, Plan B, aimed at leveraging Bitcoin technology to rejuvenate the city's financial system.

Lugano's Crypto Expansion

Previously, crypto payments were restricted to the city's official online portal. However, the recent announcement extends the acceptance of Bitcoin and Tether for all invoices, irrespective of their nature or amount.

Citizens and businesses in Lugano can now conveniently settle their expenses by scanning the invoice QR code using their preferred mobile wallets. Bitcoin (BTC) and Tether (USDT), both significant players in their respective asset classes, are the chosen cryptocurrencies for these transactions.

Bitcoin Suisse, in collaboration with Tether, plays a pivotal role in Lugano's Plan B. The company will manage the technical aspects of the payment solution, facilitating seamless payments with BTC and USDT.

Armin Schmid, Chief Product Officer at Bitcoin Suisse, expresses enthusiasm for supporting Lugano in its mission to accelerate the adoption of blockchain technology. He states, "More Swiss municipalities embracing cryptocurrency payments provides citizens and companies with additional payment options, complementing traditional methods."

Switzerland's Crypto Momentum

Lugano follows in the footsteps of Zug City, which started accepting Bitcoin and Ethereum for tax settlements back in 2021. The Canton of Zug and the municipality of Zermatt have also successfully implemented similar systems.

Switzerland has been a frontrunner in integrating crypto assets into its financial landscape. Last month, St. Galler Kantonalbank, one of the largest cantonal banks in Switzerland, officially introduced Bitcoin and Ethereum trading and custody services for its clients.