Lugano One Year Later on Bitcoin and Tether Standards

It’s been a year since the Swiss city of Lugano adopted Bitcoin and Tether (USDT) as de facto legal tender within its borders. How has its adoption plan progressed since then?

On Monday, Tether released a breakdown of the various milestones the city has reached under “Plan B” around cryptocurrency infrastructure and education.

  • According to Tether’s post, more than 150 merchants near Lugano now accept Bitcoin, Tether and LVGA (Lugano’s Swiss franc-pegged stablecoin) for payments. The Plan B fund plans to expand acceptance to more than 2,500 merchants by the end of 2023.
  • Lugano also issued the first blockchain-based municipal bond. The six-year bond issue, worth CHF 100 million ($107 million), can be traded directly on the SDX exchange, owned by the Swiss financial market infrastructure provider.
  • According to the initiative’s original plans, the city’s municipal services will now accept payments in cryptocurrencies, helping to foster a crypto circular economy.
  • On the education front, Tether hosted a summer school for 86 students from 26 countries to learn about cryptocurrencies from experts and provided 500 grants to further their studies.
  • Summer School students also have the opportunity to connect with potential employers at the Plan B Career Fair, connecting employers in the blockchain industry with dormant talent.
  • The Plan B Forum — a conference focused on expanding Bitcoin adoption — will take place in October 2022 with over 1,000 Bitcoin Lightning transactions, 130 USDT transactions, and 200 LVGA transactions.
  • To date, two countries have officially established Bitcoin as legal tender: El Salvador and the Central African Republic (CAR).

The post Lugano A Year Later About Its Bitcoin and Tether Standard appeared first on CryptoPotato.

Information source: compiled by 0x information from BITCOININSIDER.The copyright belongs to the author Anonymous, and shall not be reproduced without permission

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