McDonald's Accepts Bitcoin (BTC) and Tether (USDT) payments in the Swiss City of Lugano

McDonald's is one of the first traditional giants to participate in a crypto-friendly experiment in Lugano City (Switzerland).

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Multinational fast food chain McDonald's has started accepting Bitcoin (BTC) as a payment method in the Swiss city of Lugano, which is becoming a hotbed for cryptocurrency adoption in Western Europe.

The above information is verified by a one-minute video of the customer ordering food at McDonald's and then paying at the regular check-in counter with the help of a mobile application that was posted on Twitter by Bitcoin Magazine. on 3/10. The Tether (USDT) logo was discovered next to the Bitcoin symbol on a credit cash machine for payments.


However, this is not surprising, as in March 2022, the City of Lugano recognized Bitcoin (BTC) and Tether (USDT) as legal tender. The city signed a memorandum of understanding (MoU) with Tether Operations Limited, launching a program called “Plan B.”

Under this plan, Tether has created two funds – the first is $106 million to expand investments to crypto startups and the second is $3 million for an incentive effort. crypto adoption for shops as well as businesses across the city.

In addition to allowing Lugano residents to pay taxes in cryptocurrency, the project will expand payments for parking tickets, public services, and tuition fees to students. More than 200 stores and businesses in the area are also expected to accept crypto payments for goods and services.

Speaking in June 2022, Paolo Ardoino, CTO of Tether and Bitfinex, stated that “Plan B” is going very well, and that the company is running an extended education campaign. two weeks on blockchain and crypto in the city coming up.

On the McDonald's side, the company is also serving as one of the most aggressive traditional giants with crypto exposure in recent times. In September 2021, just as El Salvador became the first country in the world to allow the use of Bitcoin as currency, McDonald's accepted Bitcoin at all 19 of its stores in the country.

Not only that, McDonald's also encroached on the metaverse when it officially submitted an application to open a virtual restaurant in February 2022, thereby creating a pioneering wave for many other great brands to start rushing into the blockchain industry. , especially in the field of NFT, not only in the field of payment reception.


FoxCryptoNews summary

Oct 05, 2022

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