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JAKARTA – Recently, the city of Lugano, Switzerland, made Bitcoin and USDT its official means of payment. Apart from these two cryptocurrencies, Tether and Lugano's LVGA Points tokens can also be used as a medium of exchange.

Yahoo News reports that the move extends beyond a number of areas in Switzerland that recently accepted crypto for tax payments. Similar to El Salvador, Lugano also directs all its businesses to use crypto for daily transactions.

The Mayor of Lugano, Michele Foletti stated that BTC, USDT and LVGA Points have been legalized as "de facto" means of payment. Nevertheless, Foletti explained that the Swiss franc will remain the official medium of exchange in Lugano in particular and Switzerland in general.

Foletti said the decision would also be announced at the “Plan B” world bitcoin meeting held in Lugano on October 26-28. For information, Lugano is the ninth largest city in Switzerland with a population of more than 62,000. The city is located in the southern part of the country.

Simultaneously, Polygon (MATIC) also announced that it has been chosen as the official blockchain platform of the city of Lugano. The city will develop its own blockchain infrastructure with the help of Polygon.

Once the technology infrastructure has been developed, Lugano residents will be able to use crypto as a means of paying for goods and services, as reported by U.Today.


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