Utrust & Lugano are bringing crypto payments to an entire city

The deal, a part of the Plan ₿ initiative, will turn the entire city into a hub for technological innovation and allow for all public services and ecommerce businesses to accept crypto payments with Utrust

Welcome to beautiful Lugano.

We are in the largest city in the canton of Ticino, Switzerland. They just so happen to be the economic capital of the southern part of the country, strategically located between the metropolitan areas of Milan and Zurich.

Described as a market town since the 10th century, Lugano has been a financial powerhouse for over a thousand years. You don’t achieve that by standing still. Now, Lugano is ready to cement their status as a pioneering financial innovator through the adoption and usage of cryptocurrencies.

With a little help from Utrust, of course.

We are doing this with Tether and the City of Lugano

On the 3rd of March 2022, the City of Lugano and Tether Operations Limited signed a Memorandum of Understanding to collaborate on an initiative called Plan ₿.

Plan ₿ was always meant to be ambitious, and it was always meant to be big. The ultimate goal: to make Lugano one of Europe’s and the world’s main hubs for digital innovation. How? There can be only one answer: a focus on blockchain technologies.

Lugano is its people, of course, so a big part of this plan would always be to bring crypto payments to the whole community.

Crypto is for everyone: Phase 1

The ambitious goal was to provide every single person in Lugano, whether they are residents or visitors, with the opportunity to enjoy faster, safer, less expensive payments.

Utrust was delighted to help.

In the first phase, we will be providing crypto payments infrastructure for all government services. Everything to do with the municipality of Lugano will now be available through crypto payments.

We know what you’re wondering, and yes: even taxes.

“In Lugano, we are making living on crypto a reality. These currencies are the future of money, the advantages are obvious, and we are very proud to be one of the first communities to move forward with adoption. Lugano is leading the way”,

Michelle Foletti, Mayor of Lugano

That includes businesses: Part 2

Utrust has created the world’s first crypto payment solution to offer instant transactions, buyer protection and crypto-to-cash settlements. Now, this ability to provide cheaper, faster and safer payments for users worldwide and near-instant and secure global settlements at a trivial cost. Firstly, we will roll out our solution for the entire municipality.

Then, in phase 2, we will start onboarding businesses.

Any and all ecommerce businesses in the city will have access to the same solution as the city. That means seamless payments through cryptocurrencies such as Tether & Bitcoin (including Lightning Network).

“Payments are an integral part of almost all economic activity, and, consequently, human activity. Making them easier, faster, safer, and removing intermediaries from the process, is maybe the optimal way of improving the way we lead our lives in general. Lugano’s decision to bring this technological advancement to the entire city is a tremendous move and Utrust is proud to be the chosen partner to make it happen”,

said Sanja Kon, Utrust CEO

For Lugano, the future is now

Depending on payment processors and geography, merchants can be charged up to 12% in fees. That amount, which can easily mean the difference between profitability and bankruptcy, can be lowered by 90% with Utrust’s gateway.

Fixing this helps fix almost everything else. Both for businesses and for governments.

We are delighted to be able to help Tether and Lugano make this a reality for an entire city.

It’s a great start.

Next: the world.