City of Lugano accepts Bitcoin and Tether for municipal taxes

December 05, 2023 08:44 AM PST | By Invezz
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The Swiss City of Lugano will from December 5, 2023 accept Bitcoin (BTC) and Tether (USDT) as payment for taxes and other municipal fees.

According to the news release, the move to accept BTC and USDT comes as Lugano expands its payment options to include cryptocurrencies. It also comes as Lugano broadens crypto payments from being reserved for transactions on its online portal to all invoices.

Crypto is now accepted “regardless of the nature of the service or the amount invoiced,” the announcement reads.

Lugano will work with Swiss crypto provider Bitcoin Suisse

The city has integrated crypto platform Bitcoin Suisse, the city’s technical infrastructure provider helping bring crypto payments to all citizens and businesses.

Commenting on the collaboration, Bitcoin Suisse chief product officer Armin Schmid, said:

“We are delighted to support the City of Lugano in accelerating the use of Bitcoin technology as the foundation to transform the city’s financial infrastructure. 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.”

Using the Swiss QR-Bill, anyone will be able to scan a QR code on their invoice to access the pay with crypto option by choosing their preferred wallet and crypto – BTC or USDT.

Lugano hopes this provision will see further integration of blockchain and Bitcoin as part of the city’s daily life via Plan B, a collaborative effort with stablecoin issuer Tether aimed at advancing Bitcoin adoption across the city’s financial system.

Lugano’s other crypto related programs include MyLugano app, the LVGA loyalty points program and Lugano digital franc.

Several cities, cantons and municipalities in Switzerland accept or recognise crypto as a payment method. They include the City of Zug, the Canton of Zug, and the municipality of Zermatt.

The post City of Lugano accepts Bitcoin and Tether for municipal taxes appeared first on Invezz


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