El Salvador, the first country to adopt Bitcoin (BTC) as legal tender, has partnered with the city of Lugano, Switzerland, to democratize cryptocurrency among populations. The collaboration will be supported by Tether, the USDT issuing company, as part of its ₿ plan already in place in the Swiss city since the beginning of the year.
El Salvador and Lugano join forces to develop Bitcoin (BTC)
El Salvadorthe first country in the world to adopt Bitcoin (BTC) as legal tender, has partnered to the Swiss city of Lugano in order to further democratize the king of cryptocurrencies among the populations.
The cooperation was revealed on Friday, October 28 during the first day of the Plan ₿ forum organized by Tether in Lugano. Indeed, the issuer of the world’s largest stablecoin by market cap, USDT, has been working with the Swiss city since March to drive Bitcoin adoption there.
This is materialized in particular by the setting up a local payment network via the Lightning Network with merchantsthe creation of a hub in the heart of the city to promote the development of startups linked to Bitcoin, or the creation of various investment funds dedicated to this purpose.
In addition to strengthening cooperation between El Salvador and the city of Lugano, the partnership should also promote school exchanges between the 2 geographical areasin addition to initiatives aimed at fostering education about Bitcoin.
According Michele Foletti, the mayor of Luganothe democratization of Bitcoin rhymes with financial freedom:
“Lugano is a land of innovation and opportunity, and today’s historic announcement of our partnership with the great country of El Salvador is great news for supporters of financial freedom and the power of cryptocurrency »
👉 Discover our guide to buy your first Bitcoins (BTC)
The No. 1 exchange in the world – Regulated in France
Binance
-10% off fees with code SVULQ98B 🔥
The start of wider adoption?
More than a year after the adoption of Bitcoin in El Salvador, the country still seems confident in using cryptocurrency as a leading alternative to the traditional financial system.
As the European population is still generally foreign to this concept, the rapprochement between El Salvador and a country located in Europe could open up new horizons, as pointed out by Joaquin Alexander Maza MartelliAmbassador of El Salvador in Geneva:
“The use of Bitcoin and blockchain technologies creates new opportunities for growth and investment that benefit our communities, it is a new alternative financial and exchange tool that promotes commerce and the provision of services in a globalized world. . Thanks to this agreement, El Salvador is now much closer to Europe. »
Payment in cryptocurrencies is already well advanced in the Swiss city, its inhabitants can already pay in LVGAthe official token of the city of Lugano, thanks to a dedicated wallet, all based on blockchain technology. With the support of Tether, this collaboration should have a bright future ahead of it for the democratization of Bitcoin.
👉 To go further – Hong Kong would like to legalize cryptocurrency trading next March
The exchange that has the wind in its sails⭐
5% off your fees with this button
Source: Tether
Newsletter 🍞
Receive a summary of crypto news every Monday by email 👌
What you need to know about affiliate links. This page presents assets, products or services relating to investments. Some links in this article are affiliated. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus by using our links.
Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky by nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.
Passionate about the world of decentralized finance and the novelties brought by Web 3.0, I write articles for Cryptoast to help make blockchain more accessible to everyone. Convinced that cryptocurrencies will change the future very soon.
Maximilien Prue
439 items
