Nestled in the picturesque lakeside region of Ticino, Lugano is often celebrated for its breathtaking landscapes, rich culture, and high standard of living. However, in recent years, this Swiss-Italian gem has made headlines for a different reason: its burgeoning role as a leading crypto hub. As the city embraces the potential of cryptocurrencies like Bitcoin, it has managed to carve out a unique position within the global digital finance ecosystem.
Lugano’s Crypto-friendly Environment
The Plan ₿ Foundation recently announced on Twitter the launch of a new map featuring hundreds of merchants across Lugano that accept Bitcoin as payment. “Experience life in Lugano using only Bitcoin! Discover everything you need for your stay in Lugano with the map of Plan ₿ merchants,” the tweet stated.
Plan ₿ is a collaborative initiative between the city and Tether, aiming to attract wealth, innovative minds, and opportunities. As part of this plan, Lugano declared Bitcoin a de facto legal tender in March 2022.
In July 2022, the Plan ₿ Summer School was introduced, offering an educational platform for individuals seeking to expand their knowledge of Bitcoin and businesses. The event included prominent speakers like Blockstream CEO Adam Back.
Recently, the Plan ₿ Foundation teamed up with GoCrypto to onboard multiple merchants, including McDonald’s and various art galleries, to accept Bitcoin payments. The foundation estimated that by year-end, over 2,500 customers would use Bitcoin for transactions.
Today, the Plan ₿ Foundation confirmed via Twitter that both visitors and residents can “use Bitcoin for food, beverages, art, fashion, jewelry, automobiles, watches, tattoos, real estate, municipal taxes, services, and much more…”
As the Bitcoin ecosystem expands, different jurisdictions will compete to attract Bitcoin users and companies. Examples include Lugano, Madeira, Bitcoin Beach, and several others. These developments serve as a testing ground for Bitcoin’s growth, promoting wider adoption and enhancements in the industry.
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