PRESS RELEASE. October 27th, Lugano Switzerland — The city of Lugano is the largest city in the canton of Ticino, Switzerland. Strategically located between Zurich and Milan, they are the economic capital of Southern Switzerland. Part of Lugano’s appeal as a vibrant financial center is its commitment to the adoption and usage of cryptocurrencies.
On the 3rd of March 2022, the City of Lugano and Tether Operations Limited signed a Memorandum of Understanding to collaborate on an initiative called Plan ₿, meant to make Lugano one of Europe’s and the world’s main hubs for digital innovation with a focus on blockchain technologies. The plan included the ability to make crypto payments available to everyone, allowing them to be more convenient, faster and safer than ever before.
Utrust will offer crypto payments infrastructure to both government and e-commerce services. Utrust’s solution allows people to make seamless payments through cryptocurrencies such as Tether & Bitcoin (including Lightning Network).
Utrust has created the world’s first crypto payment solution to offer instant transactions, buyer protection, and crypto-to-cash settlements. This ability to offer faster and cheaper payments to users around the world and fast and secure global settlements, at an affordable cost to merchants worldwide, is now available to the City of Lugano.
Michele Foletti Mayor of Lugano stated:
“In Lugano, we are making living on crypto a reality. We are proud to have been one of the first to adopt these currencies. They are the future money. Lugano is leading the way”.
At the local level, this first section of the plan will take place. All services provided to the city’s government will be payable in crypto through the Utrust widget. It includes everything, including fees and services as well as citizens who pay their taxes.
Sanja Kon, Utrust CEO stated:
“Payments are an integral part of almost all economic activity, and, consequently, human activity. It is possible to make payments easier, quicker, safer and remove intermediaries, which could improve the quality of our daily lives. Lugano’s decision to bring this technological advancement to the entire city is a tremendous move and Utrust is proud to be the chosen partner to make it happen”
The second stage of the process will be to offer Utrust’s solution to all interested e-commerce merchants operating in the city. The solution will enable merchants to be more successful in local trade as well as global. Merchants could be charged fees as high as 12%, depending on where they are located and the processing company. That amount, which can easily mean the difference between profitability and bankruptcy, can be lowered by 90% with Utrust’s gateway.
Paolo Ardoino, Tether CTOAccording to the following:
“This technology is the future. The payment process should be instantaneous, global, and cost-effective. Everything else is redundant. This is the first ever time that an entire city can have all the necessary tools to make this a reality for thousands. The implications are hard to overstate, and we are thrilled to be the ones to make it happen.”
Michelle Foletti is the Mayor of Lugano. Sanja Kon CEO at Utrust and Paolo Ardoino CTO at Tether, Paolo Ardoino are also available for comments or interviews
Web3 Payments technology. This is a radically improved way to pay globally and receive payments. Utrust is the best cryptocurrency payment platform. Utrust enables immediate transactions and buyer protection. Merchants can also receive instant cash settlements.
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