The Plan B Foundation has officially introduced crypto currencies as a payment option. The joint initiative between the City of Lugano and Tether, the technology company behind the synonymous crypto currency, is using the payment infrastructure of GoCrypto.
According to a press release, Plan B aims to scale bitcoin and stablecoin adoption throughout the city to positively impact all facets of daily life for the residents of Lugano. The use of bitcoin technology will be accelerated and serve as the foundation for transforming the city’s financial infrastructure.
As of 4 October, GoCrypto payments will be available at nearly a dozen merchants, art galleries and more throughout the city. Even more are to be added over the course of the next 25 days. At least 2,000 customers are expected at the upcoming Plan B Forum, which will take play in the city on 28 and 29 October. By the end of 2023, the Plan B Foundation aims to enable over 2,500 merchants to accept bitcoin, tether and LVGA, three crypto currencies.
“Earlier this year, Lugano and Tether signed a memorandum of understanding to launch a strategic collaboration through several initiatives, including to help local businesses integrate their existing payment services with the permitted stablecoin and bitcoin,” said Paolo Ardoino, CTO of Tether. “And today we watch all of that hard work come to fruition.”