Plan ₿ Launches Tether, Bitcoin Payments at retail stores, enables crypto-shopping for residents and tourists
LUGANO, Switzerland, 22 March 2023 – Plan ₿, a joint initiative between the City of Lugano and Tether, the technology company supporting the blockchain-enabled platform that powers the largest stablecoin by market capitalization (USD₮) announced today a collaboration with Guess to officially bring Bitcoin, Tether and LVGA payments to retail stores in Lugano.
Plan ₿, founded by Tether and the city of Lugano, aims to scale Bitcoin and stablecoin adoption throughout the city to positively impact all facets of daily life for its residents. It has accelerated the use of and leveraged bitcoin technology as the foundation to transform the city’s financial infrastructure with over 150 Lugano shops and businesses, including McDonald's, now accepting Bitcoin, Tether, and LVGA in addition to fiat currency as payment for their goods and services.
“The addition of Guess to the companies now accepting cryptocurrency in Lugano represents a milestone moment on our journey towards full immersion and blockchain adoption in the region. It further reinforces public interest in utilizing cryptocurrencies to pay for goods and services,” said Michele Foletti, the Mayor of Lugano. “We are proud to be able to bring these technologies to our residents and hope to inspire others across Europe and the globe to do the same.”
The Guess boutique is centrally located making it a prime spot for both tourists and Lugano residents to begin experimenting with real-life digital assets. The shop will use an advanced POS system with Bitcoin lightning network technology and allow customers to buy clothing and accessories of the new collections using the three virtual currencies involved, obtaining, moreover, a 10% cashback credited to customers in LVGA. In addition, the commissions on transactions will be zero in the initial months after activation.
“In the 365 days since the launch of Plan ₿, Tether and the City of Lugano have carried out many initiatives with considerable success,” said Paolo Ardoino, CTO of Tether. The addition of Guess, a major fashion brand, to the companies now accepting cryptocurrency in Lugano demonstrates that they have become the catalyst for real change. We are so excited to watch the progress of Lugano’s cryptocurrency adoption and believe that it will be the blueprint for those who choose to follow in its footsteps.”
To learn more about Plan ₿ or to buy tickets to the Plan ₿ forum please visit: https://planb.lugano.ch/planb-forum/
About Plan ₿
Lugano’s Plan ₿ is a joint initiative between the City of Lugano and Tether to accelerate the use of and leverage bitcoin technology as the foundation to transform the city’s financial infrastructure.
The plan will scale blockchain and Bitcoin throughout the city to positively impact all facets of daily life for the residents of Lugano. From small transactions with local merchants to larger efforts – such as paying annual taxes – blockchain will serve as the foundation for the city’s financial exchanges.
Driving the Future of Money
Tether supports and empowers growing ventures and innovation throughout the blockchain as a digital token built on multiple blockchains.