McDonald's now accepts Bitcoin and Tether in a city in Switzerland. The world's most famous fast food chain now accepts payment in crypto in the city of Lugano. This is another step in the adoption of crypto-currencies for the Swiss village.
Lugano is a stronghold of cryptocurrency in Europe.
The 63,000 inhabitants of Lugano, which is located in the Italian-speaking part of Switzerland, will be able to pay in Bitcoin and Tether at McDonald's. The city is already ahead of cryptocurrency adoption as it already accepts Bitcoin (BTC), USDT, and LVGA as legal tenders. The Swiss city wants to attract entrepreneurs and startups from the cryptocurrency industry.
For this, Lugano has adopted a very accommodating crypto policy. Indeed, it is possible for its inhabitants to pay (among other things) their taxes in digital assets thanks to a collaboration with Tether. Using the Lightning Network, the city has already made it possible to pay in cryptocurrencies in more than 200 businesses.
Last March, the Swiss village launched its “ Plan ₿” operation. This project consists in developing a hub on the theme of cryptocurrencies.
The plan also involves the creation of 2 investment funds. The first fund is dedicated to driving BTC adoption across the city and is $3.26 million. The second of 110 million dollars is used for the installation of startups wishing to launch in the Swiss city. All this with the aim of becoming one of the leading cryptocurrency cities in Europe.
One of the final goals of the “plan ₿” is to create a specialized university program. The topics will be mainly on Bitcoin (BTC) and the Lightning Network. Thus, students will be able to learn new skills and knowledge in the young field of cryptocurrency.
McDonald's is added to the list of businesses accepting crypto payments.
In this video below from Bitcoin Magazine, a person can be seen coming to order at a McDonald's restaurant. The customer pays for his meal using a cryptocurrency mobile payment in a short time. At the entrance to the fast food, there is the Bitcoin (BTC) and Tether logos indicating that the restaurant accepts these means of payment.
Other crypto payment services are coming to the city of Lugano. Residents will be able to pay parking tickets, student fees, and other public services. In addition to that, merchants should also accept this new means of payment by digital assets.
“Lugano is investing in its future. This is why, in recent years, we have already implemented blockchain-based solutions, including the MyLugano app and its payment token LVGA Points, the digital Lugano franc, and the 3Achain blockchain infrastructure,” said the mayor of Lugano, Michele Foletti.
In an interview with Cointelegraph in June, Paolo Ardoino, Chief Technology Officer of Tether and Bitfinex, claimed that the plan ₿ is “ going beautifully,” announcing a two-week blockchain and cryptocurrency educational activity in the city.
In September 2021, El Salvador became the first country in the world to allow bitcoin to be used as legal tender. Since then, McDonald's has been accepting bitcoins at its 19 outlets nationwide. From then on, we can imagine that other countries and fast foods will follow suit by offering payments in cryptocurrencies in their stores.
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