The City of Lugano and Tether Operations Limited (Tether) are proud to celebrate the one-year anniversary of the Plan ₿ initiative, launched to accelerate the use of Bitcoin technology and transform the city’s financial infrastructure.
One year ago, on 3 March 2022, the City of Lugano and Tether announced their partnership, aimed at creating a comprehensive ecosystem for the use of digital assets in the city.
The Plan ₿ initiative in Lugano
On 3 March 2023, the City of Lugano celebrates the one-year anniversary of the Plan ₿ initiative.
The initiative was launched with the goal of promoting Lugano as an important center for promoting blockchain in Europe and for fully utilizing its capabilities.
The participating parties, including a consortium of companies, announced a 100 million Swiss franc fund to support crypto startups and a 3 million Swiss franc fund to assist Lugano stores and businesses in adopting crypto.
In addition, Bitcoin, Tether and Lugano’s LVGA tokens have been accepted for payment of taxes, parking tickets, utilities and university fees.
One year after the initiative, more than 150 stores and businesses in Lugano, including the likes of McDonald’s, accept Bitcoin, Tether and LVGA as a payment method for their services.
This has enabled Lugano citizens and businesses to transact quickly, securely and inexpensively without having to use traditional financial intermediaries.
The Plan ₿ initiative has also attracted a significant amount of investment to the city, with many startups and entrepreneurs settling in Lugano to take advantage of the city’s progressive stance on digital assets.
This has led to the creation of numerous well-paid jobs and a boost to the local economy.
To celebrate the success of the initiative, Tether and the City of Lugano have announced the launch of the Plan ₿ Business Hub, which will explore the potential of blockchain technology in the business, adoption and long-term use of cryptocurrencies in the region.
The hub will host more than 300 blockchain experts and enthusiasts and serve as a global hub in Lugano, attracting talent and encouraging networking and knowledge sharing.
The first Plan ₿ event took place in the Swiss city itself, and was attended by more than 1,500 people.
During the forum, more than 1,000 transactions were made through the Bitcoin Lightning network, nearly 130 transactions in USD₮ and 200 transactions in LVGA.
Lugano also launched the first digital bond based on blockchain technology on the SIX Digital Exchange (SDX) worth 100 million Swiss francs.
In addition, the city has partnered with the University of Lugano (USI), the University of Applied Sciences of Southern Switzerland (SUPSI) and Franklin University Switzerland (FUS) to coordinate current and future activities related to blockchain.
The words of the mayor of Lugano and the CEO of Tether
Michele Foletti, mayor of Lugano, said the goal of the collaboration is to make Lugano a center of excellence for digital asset technologies.
He also stressed the strength of Lugano’s ₿ Plan, the demonstration it gives in the concrete use of these new technologies.
Lugano hosted numerous educational, networking and outreach events that attracted people from all over the world to learn about and discuss the opportunities offered by blockchain technology and cryptocurrency adoption.
Paolo Ardoino, CEO of Tether, expressed his pride in the progress made toward financial freedom in the one year since the launch of Plan ₿:
“The idea of Plan ₿ was born from a dream. What if there was a city that could lead Europe, and one day the world, toward total financial democratization and cryptocurrency adoption? Today, one year after the launch of Plan ₿ in the wonderful and innovative city of Lugano, that dream is much closer to reality.”
The 2023 program includes the recently announced Plan ₿ Lugano forum, which will take place 20-21 October 2023 and will be the second annual forum on Bitcoin, focusing on cryptocurrency and blockchain adoption.
In addition, Tether has planned to continue its Plan ₿ summer program with two sessions during 2023, one in the spring and one in the summer.
In conclusion, the City of Lugano’s Plan ₿ initiative has achieved remarkable success in its first year, attracting global attention and promoting blockchain adoption in the region.
The launch of the Plan ₿ Business Hub marks a significant milestone in the progress of the initiative to make Lugano a center of excellence for blockchain technologies.
The continued support of Tether and other participating parties will no doubt contribute to the growth and success of the initiative in the years to come.
Events such as these, place hope in Europe for the future of digital assets and blockchain technology.
