The American multinational fast food chain McDonald’s has started accepting payments in Bitcoin and Tether in Switzerland’s city of Lugana, populated by around 63,000 people. The announcement comes in a tweet by Bitcoin magazine on October 3. And it posted a video in which a customer ordered food using McDonald’s kiosk and paid for it using a digital wallet app on mobile. The credit card machine used to scan the QR code to proceed with payment was labeled with Bitcoin and Tether.
By the end of 2023, the Plan ₿ Foundation aims to enable more than 2,500 merchants to accept these three currencies.
This we new through the joint initiative between the Swiss City of Lugano and USDT stablecoin issuer Tether, announced a collaboration with payment facilitator GoCrypto to officially bring Bitcoin (BTC), Tether (USDT), and LVGA payments to Lugano – enabling citizens to use their wallets at McDonald's and other merchants.
The latest development is part of the city’s vision to transform the financial infrastructure into a digital ecosystem. Therefore, Lugana city signed a memorandum of understanding with stablecoin issuer Tether on March 3. The collaboration resulted in a joint Foundation Plan B. And it aims to accelerate the process of enabling Bitcoin and USDT payments for goods, taxes, and services within Lugana city.
The Tether has settled two funds of $100 million and $3 million for backing Plan B. The funds will provide investment opportunities to startups and boost crypto adoption by merchants and shops across the state.
Furthermore, the Plan B Foundation has partnered with Go Crypto, a point-of-sale solution that will set the channels for the residents to use Bitcoin and Tether in their daily activities with an aim to expand crypto growth in the regime.
Although cryptocurrency’s low prices have shaken the spirit of many, crypto adoption, on the other hand, continues to gain more ground, undermining the market downtrends. Like El Salvador’s move to give Bitcoin a legal tender, it’s Lugana city of Switzerland, based on Italian-speaking residents, to become the latest hotspot for crypto adoption in Western Europe.
As so many adoption of cryptocurrency is going on fast, I Ask where are you in the Crypto space?