The Swiss city of Lugano now accepts Bitcoin and Tether for municipal taxes

In the year On December 5, 2023, the Swiss city of Lugano announced the inclusion of Bitcoin (BTC) and Tether (USDT) cryptocurrencies for tax and other municipal fee payments.

This makes Lugano's cooperation plans with Tether, Plan B, part of the fashion to revamp the city's financial system using Bitcoin tech.

Lugano dived into the world of crypto

Before the recent events, Lugano only allowed crypto payments directly on the city's official online portal. However, the release extends the opportunity to each invoice regardless of nature and amount.

According to the statement, Lugano citizens and companies can pay their expenses by scanning the QR code of the invoice and using their favorite mobile wallets. The two assets based on the statement are Bitcoin (BTC) and Tether (USDT), behemoths in their respective asset classes.

Note that the latest update to Bitcoin Suisse's statement is part of Lugano's Plan B, partnering with Tether to integrate BTC into everyday life.

This release suggests Bitcoin Suisse's role in Lugano's Plan B. Bitcoin Suisse handles the technical part of the payment solution to provide a convenient option for accepting payments with BTC and USDT.

Armin Schmid, Chief Product Officer at Bitcoin Suisse, expressed his pleasure in supporting Lugano to accelerate the use of blockchain technology. he said:

“It is great to see that Swiss municipalities are offering citizens and companies an alternative to payments in cryptocurrencies, complementing traditional payment methods such as post-office counters and e-banking platforms.”

Bitcoin Suisse emphasizes its pleasure in providing the technical infrastructure for crypto payments. In addition, it boasts of offering crypto payments to other Swiss cantons, municipalities and cities.

Switzerland is going all-in with Crypto.

In this way, Lugano is not the first Swiss city. As of 2021, Zug City has already started accepting Bitcoin and Ethereum for tax settlements. The canton of Zug and the municipality of Zermatt have already implemented the system.

Switzerland has been ahead of the curve in accepting crypto assets for some time.

Last month, St. Galler Cantonalbank, one of Switzerland's largest cantonal banks, announced the official rollout of Bitcoin and Ethereum trading and regulatory services to a wide range of clients.