McDonald’s begins accepting crypto payments through Bitcoin and Tether in Lugano, a town in Switzerland. The multinational fast food joint is not alone as many other businesses in the region also open their doors to the digital payment route.
The development is courtesy of a deal between Tether Operations Limited and the town’s authorities. It allows residents use digital assets to pay for everything from taxes, goods, to services.
Bitcoin Magazine tweeted a video of ordering food to showcase how smooth the process is:
🇨🇭 Paying at McDonald’s with #Bitcoin in Lugano, Switzerland. pic.twitter.com/8IdcupEEKQ
— Bitcoin Magazine (@BitcoinMagazine) October 3, 2022
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Then, Paolo Ardoino, CTO of Tether, explained: “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 stablecoins and Bitcoin. We have been working together to ensure the technological infrastructure is in place to support this and today we watch all of that hard work come to fruition.”
Despite having a really bad start in 2022, it appears that digital assets economy is on its way to global acceptability, one region at a time. With the doggedness of crypto industry leaders to convince formerly uncertain shot callers in the finance world, we just might see more places where you can use cryptos without hassle.
Tether had to create multimillion-dollar funds in Lugano to finance blockchain startups in the region. It also worked with local universities and research institutions to teach residents about cryptocurrency.
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