The Swiss city is on a quest to make crypto mainstream with an unusual partnership.
which will be backed by bitcoin investment. The launch of the bonds has been repeatedly delayed since they were announced in November, but Ardoino says he expects the law making way for the issuance to be approved in June.
Even if Tether will not receive any payment from the city as part of its involvement in Lugano’s Plan B, Ardoino says that by helping global crypto acceptance grow, Tether and its parent company, the cryptocurrency exchange Bitfinex, will end up having more business. In Lugano, there are still a ton of outstanding issues, including the fact that the city has not yet started accepting crypto payments for taxes and public services, although Bregy expects a partial rollout to begin by the end of 2022.
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