Fast food chain McDonald’s is currently testing payment in Bitcoin (BTC) and stablecoin Tether USDT in the city of Lugano.
A video with the food order via an electronic kiosk and subsequent payment in crypto-currency via a mobile app was published by Bitcoin Magazine.
In fact, the 63,000 residents of Lugano which is located in the Italian-speaking part of Switzerland, will be able to pay in Bitcoin and Tether at McDonald’s. The city is already ahead of the curve on cryptocurrency adoption as it already accepts Bitcoin (BTC), USDT and LVGA as legal currencies. The Swiss city wants to attract entrepreneurs and startups in the crypto-industry.
In fact, beyond more than 200 stores and businesses in the area that must accept crypto-payments, the city of Lugano’s “Plan B” must also allow residents to:
- pay their taxes,
- parking tickets,
- utilities and school fees using BTC, USDT or the local LVGA Points token.
The plan also involves the creation of two investment funds. The first fund is dedicated to fostering the adoption of BTC throughout the city and amounts to $3.26 million. The second one of $110 million is used for the installation of startups that want to launch in the Swiss city. All of this with the aim of becoming one of the leading cryptocurrency cities in Europe.
Alongside this innovative crypto operation in Lugano, a partnership with Tether is set to result in the creation of a funding fund of up to 100 million Swiss francs to help finance blockchain startups in the region.
The move was the development of a joint initiative to make Lugano the “Bitcoin Capital of Europe,” announced by the parties in February. It seems that the adoption of crypto payments is gaining ground every day despite the crypto winter.