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Lugano Embraces Bitcoin and Tether for Municipal Tax Payments

The Swiss city of Lugano has taken a pioneering leap into the world of cryptocurrency.

In a landmark move announced on December 5th, the city unveiled its decision to integrate Bitcoin and Tether, a major stablecoin, into its municipal payment systems, allowing citizens and businesses to settle taxes and various local fees through these digital currencies.

This bold initiative, marking an unprecedented shift in how municipalities engage with finance, was disclosed officially by the Lugano administration.

Effective immediately, the city is set to embrace Bitcoin and Tether as viable payment methods through a streamlined, automated process facilitated by the reputable Swiss institutional-grade cryptocurrency platform, Bitcoin Suisse.

Under this transformative system, Lugano residents and businesses will gain the ability to settle all local invoices, irrespective of service nature or invoiced amount, using cryptocurrencies such as Bitcoin.

The process is simplified through the utilization of the Swiss QR-bill, allowing seamless transactions by scanning the code on the invoice and choosing the preferred mobile wallet and cryptocurrency for payment.

This strategic move is a pivotal part of Lugano’s forward-thinking strategy, known as Plan B. Collaborating with Tether, the city aims to leverage Bitcoin technology to redefine its financial landscape.

It is worth noting that Bitcoin Suisse plays a crucial role as the technical partner in implementing this integrated payment solution, enabling the acceptance of Bitcoin and Tether for tax collection and various municipal service invoices.

This recent announcement builds upon Lugano’s earlier forays into the realm of digital finance. The city had commenced its adoption of cryptocurrencies for tax payments in collaboration with Tether back in March 2022.

Prior to this, Lugano had already incorporated blockchain-based solutions, such as the MyLugano app and the LVGA Points payment token, alongside the introduction of the Lugano digital franc and the 3Achain blockchain infrastructure.

However, Lugano isn’t treading this path alone. The city joins the ranks of pioneering Swiss municipalities actively embracing Bitcoin for financial transactions. According to Cointelegraph, Canton Zug had taken the lead in 2021 by accepting Bitcoin and Ether for tax payments from local entities, followed by Zermatt in the canton of Valais, which partnered with Bitcoin Suisse in January 2020 to roll out Bitcoin as a tax payment option.

News Desk

Unlock News Desk, is a group of Blockchain and Crypto enthusiastic young people, working to keep Unlock readers up to date with the industry news. Connect with the team via email: info(@)unlock-bc.com

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