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Lugano, Southern city in Switzerland, enables tax payments using crypto

The city of Lugano, has set up its partnership and collaboration with Tether Operations Limited, the blockchain-based platform that powers USDT, which has the largest stablecoin market cap. This will enable residents to pay taxes using this new payment method.

The city administration of Lugano stated that their ultimate goal is enable people in the city to pay for all goods and services using cryptocurrency.

With this partnership, Tether aims to set aside a fund worth millions of dollars in order to finance blockchain startups within the region. With this, Tether aims to adhere to the social responsibility of providing education in this field to the region through collaborations with local universities and institutions.

Lugano’s Mayor Michele Foletti stated, “Lugano is investing in its future. In recent years, we have already implemented blockchain-based solutions including the MyLugano app and its LVGA Points payment token, the Lugano digital franc and the 3Achain blockchain infrastructure.”

Great progression happening within the public sector for blockchain and cryptocurrency.

Photo by Antonio Sessa

About the author, Leyla Ozturk

Leyla Ozturk, lifelong learner currently immersed in the digital world and the way businesses can step into this world. Deeply fascinated by blockchain, cryptocurrency and the whole Fintech ecosystem. All 3 areas have proven that there are issues within the system, there are ways to improve the system and this disruption is needed for economic growth and improvement.

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