Tech

It is known that McDonald’s accepts payment in Bitcoin, Tether in the Swiss Town of Lugano


Multinational fast food joint venture McDonald’s reportedly started accepting Bitcoin and the asset-backed stablecoin, Tether as payment in the Swiss town of Lugano as part of a test crypto-friendly is happening in the Italian province in Switzerland. The development comes after Lugano signed a memorandum of understanding with Tether Operations Limited in March 2022 giving Lugano residents the option to pay taxes, goods and services with digital currency. Furthermore, with the help of Tether, the Italian-speaking city will become a major blockchain hub.

Bitcoin Magazine tweeted a minute-long video of ordering food on a McDonald’s digital kiosk and then paying at their regular check-in counter with the help of a mobile app. Along with this, Tether The logo was also spotted next to the Bitcoin symbol on credit teller machines. It is understood that Tether is partnering with global payments support company GoCrypto to enable crypto payments in the city.

“Earlier this year, Lugano and Tether signed a memorandum of understanding to launch a strategic partnership through a number of initiatives, including helping local businesses integrate existing payment services. their own with authorized stablecoins and Bitcoin“Said Paolo Ardoino, CTO of Tether talk to Bitcoin Magazine.

“We worked together to ensure the technology infrastructure was in place to support this, and today we watch all of that hard work come to fruition,” said Ardoino.

Sellers participating in the initiative so far include the fast food giant McDonald’ssome art galleries and others.

In addition to participating merchants, the initiative wants to expand crypto payments later to include parking tickets, public services, and student tuition. Residents of Lugano will also be allowed to pay taxes in cryptocurrency.

To support implementation, Tether has created multi-million dollar funds to help fund blockchain startups in the region and partnered with local universities and research institutions to educate younger generations about cryptocurrency.


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