As the world’s population continues to embrace the use of digital currencies, more businesses are taking this advantage to increase traffic to their businesses, like many other businesses, Swiss McDonald’s has announced a move to utilize the benefits digital currencies could offer its business.
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Lugano City McDonald’s Adopts BTC, Tether as Payments
As Lugano’s city of Switzerland is becoming more friendly to cryptocurrency, businesses like McDonald’s stores in the city are responding to the move as it now accepts Bitcoin and Tether’s USDT as payments in the city.
The Lugano city of Switzerland is planning to host one of the most important European crypto events by the end of October 2022.
Part of Lugano’s plans for its economy is to boost crypto payments in the city, especially the use of Tether and Bitcoin, the October event is aimed to focus on one of the major developments of the Lightning Network. This is Bitcoin’s Layer 2 scalability protocol that will focus on anonymous, immediate, and low-cost transactions.
The intended crypto event is in collaboration with the crypto firm Tether, Paolo Ardonio, Tether’s CTO will as well be one of the event’s protagonists.
Tether’s USDT is a stablecoin that is traded mainly on Ethereum and Tron blockchain, it is currently the largest stablecoin in the crypto market, currently trading close to $70 billion.
Earlier this year, Tether signed an MoU with Lugano city, launching a plan B, and in response to this plan, Tether created a $106 million investment for crypto startups and another $3 million to encourage the adoption of crypto in businesses in the city.
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