Wednesday, July 17, 2024
HomeBusinessMcDonald's starts to accept Bitcoins and Tether in Switzerland

McDonald’s starts to accept Bitcoins and Tether in Switzerland

Fast food company McDonald’s is accepting Bitcoin and Tether as payment methods in the Swiss city of Lugano as part of an ongoing cryptocurrency experiment in the Italian province of Switzerland. In terms of details, the Plan Foundation, a joint initiative between the Swiss city of Lugano and USDT stablecoin issuer Tether, has announced a partnership with payment facilitator GoCrypto to officially bring Bitcoin (BTC), Tether (USDT) and LVGA payments to Lugano. allow citizens to use their wallets at McDonald’s and other merchants.

Lugano – the hotspot of cryptocurrency adoption

Lugano is a city of 63,000 inhabitants that is slowly becoming a hotspot for cryptocurrency adoption in Western Europe. It would become one of the first cities in the world to implement an entire cryptocurrency payment economy, with more than 200 shops and businesses expected to accept crypto payments for goods and services.

On October 3rd, Bitcoin Magazine uploaded a video of a person ordering food at a McDonald’s digital kiosk and paying for the order in BTC at the checkout using a mobile app. The Tether logo and Bitcoin are also easily seen in the video placed on the credit card device as it is used as legal tender. Paolo Ardoino, Chief Technology Officer (CTO) of Tether, said: “Blockchain will serve as the foundation for urban financial exchanges, from small transactions with local merchants to larger endeavors – such as paying annual taxes.”

McDonald’s accepts Bitcoin in El Salvador

McDonald’s also began accepting Bitcoin as a payment method in El Salvador on September 7, 2021, the first country to accept cryptocurrency as legal tender. Residents of El Salvador can now pay for any of the fast food chain’s menu items with bitcoin at all 19 McDonald’s locations in the country, as well as online and through delivery apps.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments