McDonald's began accepting Bitcoin (BTC) as a payment method in the 63,000-person city of Lugano in Switzerland's Italian-speaking region, which has emerged as a hub for crypto adoption in Western Europe.
On October 3, Bitcoin Magazine posted a one-minute video on Twitter of ordering food from McDonald's electronic kiosk and then paying for it at the regular register using a mobile app. The Tether (USDT) logo was seen next to the Bitcoin symbol on the credit cash machine, which isn't surprising considering that the city of Lugano announced in March 2022 that it would acknowledge Bitcoin, Tether, and the LVGA token as legal tender.
The city signed a memorandum of agreement with Tether Operations Limited on March 3, 2022, launching the so-called "Plan B." According to this plan, Tether has made two funds — the first is a $106 million, or 100 million Swiss francs, investment pool for crypto businesses, and the second is a $3 million, or 3 million Swiss francs, tries to promote the adoption of crypto for stores and businesses across the city.
In terms of allowing Lugano citizens to pay their taxes with cryptocurrency, the project will also accept payments for parking tickets, public services, and student tuition fees. More than 200 local businesses in the area are also expected to accept cryptocurrency payments for goods and services.
El Salvador became the first country to accept Bitcoin as a legal tender in September 2021. Since then, McDonald's has accepted Bitcoin at all of its 19 locations across the country.
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