The city of Lugano in Switzerland has embraced digital currencies by enabling its citizens and businesses to utilize them for tax payments and municipal fees.
The city of Lugano in Switzerland has embraced digital currencies by enabling its citizens and businesses to utilize them for tax payments and municipal fees. In an official announcement on December 5, Lugano announced its acceptance of Bitcoin (BTC) and Tether (USDT) as payment methods for invoices issued by Lugano, using the Swiss cryptocurrency platform Bitcoin Suisse.
Under this new initiative, residents of Lugano can conveniently settle their taxes and various services by scanning the Swiss QR-bill code featured on their invoices and executing the transaction using their preferred mobile wallet and the chosen cryptocurrency.
This development is part of Lugano's broader Plan B, a collaborative venture with Tether aimed at leveraging Bitcoin technology to revolutionize the city's financial system. Bitcoin Suisse, serving as the technical partner in this integrated payment solution, supports Lugano in accepting Bitcoin and Tether payments for tax payment and other invoices related to municipal services.
Chief Product Officer at Bitcoin Suisse, Armin Schmid, said:
“It is great to see that more and more Swiss municipalities are offering payments in cryptocurrencies as an option available to both citizens and companies, complementing traditional payment methods such as post-office counters and e-banking platforms.”
Lugano has implemented blockchain-based solutions in the past, including integrating the Polygon chain on the MyLugano app, LVGA Points payment token, Lugano digital franc, and the 3Achain blockchain infrastructure. Other Swiss municipalities like Zug started accepting Bitcoin and Ether for tax payments from local individuals and companies in 2021, while Zermatt introduced the option to pay taxes with Bitcoin in partnership with Bitcoin Suisse in January 2020.
Let us know what you loved about this article, what could be improved, or share any other feedback by filling out this short form.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators.
This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice.
The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
