McDonald’s starts to accept Bitcoin and Tether in Lugano, Switzerland

The global fast food giant started to accept Cryptocurrency payments like Bitcoin(BTC) as a payment method in Lugano, Switzerland.

McDonald’s starts to accept Bitcoin and Tether in Lugano, Switzerland

The city signed a memorandum of understanding with Tether Operations Limited, launching the so-called Plan B According to this plan Tether has created two funds the first one is a $106 million or 100 million swiss France. investment pool for crypto startups, and the second is approx $3 MILLION OF 3 million swiss francs, attempt to encourage the adoption of crypto for shops and businesses across the city. 

Also, Lugano residents pay their taxes using 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. 

Paolo Ardoino chief technology officer of Tether and Bitfinex claimed that plan B is going great declaring a two-week educational activity on blockchain and cryptocurrencies in the city. 

EL Salvador became the first country in the world to allow using Bitcoin as a legal tender in September 2021. McDonald's has been accepting Bitcoin at all its 19 outlets in the country.

Related: Mastercard launches new crypto fraud protection tool