One of the first to take part in a crypto-friendly trial in the town of Lugano is the international fast food business.
In the 63,000-person city of Lugano, which is a center for cryptocurrency acceptance in Western Europe and is located in the Italian-speaking area of Switzerland, the multinational fast food giant McDonald's began accepting Bitcoin (BTC) as a form of payment.
On October 3, Bitcoin Magazine shared a one-minute video to Twitter showing the buying of food at a McDonald's electronic kiosk and the subsequent payment of that order using a smartphone application at the store's cash register. It is not unusual to find the Tether (USDT) logo next to the Bitcoin symbol on the credit cash machine because of city of Lugano said in March 2022 that it will take Bitcoin, Tether, and the LVGA coin as legitimate money.
The so-called "Plan B" was formally introduced on March 3, 2022, when the city and Tether Operations Limited signed a memorandum of consent. In accordance with this approach, Tether has established two funds: the first is a $106 million (or 100 million Swiss francs) investment pool for cryptocurrency startups, and the second is a $3 million (or 3 million Swiss francs) initiative to promote the adoption of virtual currency for stores and corporations all across the city.
The idea will extend transactions to parking tickets, municipal services, and student education costs in addition to allowing Lugano residents to pay for their taxes using virtual currency. Furthermore, more than 200 local stores and businesses are likely to accept cryptocurrency payments for their products and services.
Paolo Ardoino, chief technology officer of Tether and Bitfinex, said that Plan B "is doing fantastic" in a June interview with Cointelegraph. He also launched a two-week educational session on cryptocurrencies and blockchain in the town.
El Salvador became the first nation on earth to accept Bitcoin as legitimate money in September 2021. Ever since, all 19 of McDonald's outlets around the state have begun to take Bitcoin.