McDonald’s Embraces Bitcoin and Tether in Lugano, Switzerland

Global fast-food giant McDonald’s takes a bold step into the crypto space, accepting Bitcoin and Tether as payment in the Swiss city of Lugano.

McDonald’s, a globally recognized name in fast food, has started accepting Bitcoin (BTC) and Tether (USDT) for payments in Lugano, Switzerland. This initiative positions the 63,000-resident city, nestled in the Italian-speaking region of the country, as a burgeoning hub for cryptocurrency adoption in Western Europe.

A video shared by Bitcoin Magazine on Oct. 3 showcased the seamless process of ordering food via McDonald’s digital kiosk and completing the payment using a mobile app. Both the Bitcoin and Tether logos were prominently displayed on the payment terminal, reflecting Lugano's growing crypto-friendly environment.

This move aligns with Lugano’s “Plan B” initiative, announced in March 2022, when the city entered a memorandum of understanding with Tether Operations Limited. The partnership has ambitious goals: making Bitcoin, Tether, and Lugano’s own LVGA token legal tender within the city.

Crypto-Friendly Innovations in Lugano

Under Plan B, Tether has allocated significant resources to bolster crypto adoption in the city. Key components include:

• A $106 million fund: Designed to support crypto startups in the region.
• A $3 million fund: Aimed at incentivizing local shops and businesses to accept cryptocurrency payments.

Residents of Lugano can now pay taxes, parking fees, tuition, and public services using cryptocurrencies. Over 200 businesses in the city are expected to integrate crypto payments, further embedding digital currencies into daily life.

McDonald’s Crypto Journey

McDonald’s has shown openness to cryptocurrency in other parts of the world as well. In September 2021, El Salvador made Bitcoin legal tender, and McDonald’s began accepting it across all 19 of its outlets in the country. Lugano now joins this trend, making it one of the first cities in Europe to see McDonald’s adopt cryptocurrency payments.

Driving Education and Adoption

Plan B isn’t just about payment solutions. It’s also about education. Paolo Ardoino, CTO of Tether and Bitfinex, shared in June that Lugano is hosting a two-week blockchain and cryptocurrency educational program. This initiative aims to demystify blockchain technology and further encourage its adoption in the region.

Lugano: A Crypto Innovation Hotspot

With Lugano leading the way in cryptocurrency adoption and McDonald’s participation reinforcing mainstream acceptance, the city is setting an example for integrating digital currencies into everyday commerce. As the initiative unfolds, Lugano is well on its way to becoming a cornerstone of crypto innovation in Europe.

For more updates on crypto adoption in Switzerland, stay tuned to Swiss Crypto News.