The city of Lugano will accept Bitcoin, Tether and LVGA tokens as “de facto” legal tender

© Reuters.

The city of Lugano in southern Switzerland plans for many local businesses to accept certain cryptocurrencies as “de facto” legal tender under a partnership with .

Speaking at the city’s Plan B event on Thursday, Tether CTO Paolo Ardoino noted the company had set up a fund of 3 million Swiss francs in collaboration with officials in Lugano to encourage the adoption of (BTC), Attached (USDT) and the LVGA token for stores and businesses in the city. Ardoino said the project aims to attract space talent to Lugano and make the city a major blockchain hub in Europe.

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