The City of Lugano, Switzerland to Accept Cryptocurrency Payments
The city of Lugano, Switzerland has recently made an exciting announcement – it is now ready to start accepting tax payments in cryptocurrency. This new payment option includes popular cryptocurrencies such as Tether (USDT) and Bitcoin (BTC). Citizens can now use these digital assets to pay for any invoice issued by Lugano, including municipal services and community fees. The integration of cryptocurrency into the city’s payment system has been made possible through a partnership with Bitcoin Suisse, a well-established infrastructure provider for crypto trading, staking, and custody.
Lugano has embraced Swiss QR-Bill technology to facilitate these crypto payments. This technology enables citizens and companies to make payments directly from their chosen mobile wallet by simply scanning a QR code. The city aims to leverage crypto as a modern and flexible form of money, making transactions more convenient for its residents.
Embracing Cryptocurrency as Legal Tender
Notably, Lugano recognized both BTC and USDT as de facto legal tender early last year. This decision signified the city’s commitment to making these digital currencies easily usable for both consumers and municipal payments. The city’s progressive approach towards adopting cryptocurrencies has resulted in significant uptake among local merchants. According to a March update from Tether, approximately 150 merchants in Lugano have already started accepting BTC and USDT. The city has ambitious plans to expand this acceptance to 2500 merchants by the end of the year.
Prior to this development, cryptocurrency payments in Lugano were limited to the city’s online portal. However, with the recent announcement, all invoices issued by Lugano are eligible for crypto payments, regardless of the service or amount. This includes a wide range of services, such as parking tickets, sewage fees, passport issuance fees, construction permit fees, port docking fees, and more.
A Trailblazing Effort in Switzerland
Lugano is not the first Swiss city to embrace cryptocurrency payments. The Swiss canton of Zug paved the way back in 2021 by accepting BTC and ETH for tax payments. In 2020, the city of Zermatt also collaborated with Bitcoin Suisse to allow Bitcoin tax payments. This trend highlights Switzerland’s progressive approach towards cryptocurrencies and its openness to embracing the potential of digital assets.
“On the national level, El Salvador remains the only country to adopt Bitcoin as legal tender.”
– Armin Schmid, Chief Product Officer at Bitcoin Suisse
While Lugano’s move to accept cryptocurrency as a payment option for taxes is commendable, it’s important to note that it is not yet as widespread as El Salvador’s adoption of Bitcoin as legal tender. Nevertheless, Lugano’s initiative is a significant step towards mainstream acceptance of cryptocurrencies and showcases the city’s commitment to innovation and modernization.
