McDonald’s started accepting Bitcoin and Tether (USDT) as a payment method in Lugano, Switzerland.
Earlier in March 2022, the city of Lugano announced it would accept Bitcoin, Tether, and the LVGA token as legal tender. The city signed a memorandum of understanding with Tether Operations Limited, launching the so-called “Plan B”.
Under this plan, Tether has created two funds: the first is a $106 million investment pool for crypto startups, and the second is around $3 million attempt to encourage crypto adoption for shops and businesses across the city.
In addition to enabling Lugano residents to pay taxes with crypto, the project will extend payments to parking tickets, public services and tuition fees for students. More than 200 shops and businesses in the area are also expected to accept crypto payments for goods and services.