One of the first to take part in a crypto-friendly trial in the town of Lugano is the international fast food business.
In the 63,000-person city of Lugano, which is a center for cryptocurrency acceptance in Western Europe and is located in the Italian-speaking area of Switzerland, the multinational fast food giant McDonald’s began to accept Bitcoin (BTC) as a form of payment.
On October 3, Bitcoin Magazine posted a one-minute video to Twitter showing the purchase of food at a McDonald’s digital kiosk and the subsequent payment of that item using a mobile app at the store’s cash register. It is not surprising to see the Tether (USDT) logo next to the Bitcoin symbol on the credit cash machine because the city of Lugano said in March 2022 that it will accept Bitcoin, Tether, and the LVGA token as legal money.
The so-called “Plan B” was officially launched on March 3, 2022, when the city and Tether Operations Limited signed a memorandum of understanding. In accordance with this strategy, Tether has established two funds: the first is a $106 million (or 100 million Swiss francs) investment pool for cryptocurrency startups, and the second is a $3 million (or 3 million Swiss francs) initiative to promote the adoption of cryptocurrency for stores and businesses throughout the city.
The idea will expand payments to parking tickets, municipal services, and student tuition costs in addition to enabling Lugano residents to pay their taxes using cryptocurrency. Additionally, more than 200 local stores and businesses are anticipated to accept cryptocurrency payments for goods and services.
Paolo Ardoino, chief technology officer of Tether and Bitfinex, said that Plan B “is doing fantastic” He also announced a two-week educational event on blockchain and cryptocurrencies in the city.
El Salvador became the first nation in the world to accept Bitcoin as legal money in September 2021. Since then, all 19 of McDonald’s locations around the nation have started to accept Bitcoin.