One of the Swiss McDonald’s restaurants starts accepting crypto payments
According to the city’s initiative, the system of accepting payment in digital assets will connect more than 2000 businesses
![One of the Swiss McDonald’s restaurants starts accepting crypto payments](https://storage.getblock.net/source/1/91DjV-nLG0NafIGmG7J9nKDv2F_aOyY8.webp)
05.10.2022 - 12:30
383
2 min
0
What’s new? A McDonald’s fast-food restaurant in Lugano, Switzerland, began accepting bitcoin and Tether (USDT) stablecoin for payment. This initiative was implemented in accordance with the agreement on the adoption of cryptocurrencies, which the city’s authorities entered into with Tether, the issuer of the stablecoin. According to Blockworks, the Memorandum of Understanding (MoU) was signed earlier this year. According to the document, cryptocurrency payments will integrate more than 2000 businesses in Lugano.
What else is known about the initiative? In addition to retail outlets, Tether wants to extend crypto payments to parking tickets, public services, and student tuition. Residents of Lugano will also be allowed to pay taxes using digital assets.
To support this project, Tether created several funds to finance blockchain startups in the region and collaborate with local universities and research institutes.
Earlier, the CEO of Mastercard payment company Michael Miebach reported a collaboration with crypto exchange Binance, within which more than 90 million stores around the world would be able to integrate crypto payments
According to a June survey by Deloitte, 75% of US retailers plan to start accepting payments in cryptocurrencies or stablecoins within the next two years. More than half of the companies with more than $500 million in revenue spend about $1 million to build the necessary infrastructure for this.
Useful material?
Market
Australia’s largest financial institutions have refused to process payments to digital asset trading platforms due to the risk of fraud
Jul 26, 2024
Politics
According to the politician, the value of the country’s bitcoin reserves should equal the value of gold reserves
Jul 26, 2024
Mining
The capacity of the Bitaxe device used by the network participant is only 500 Gh/s
Jul 25, 2024
Trends
Meanwhile, Trump-inspired assets have not shown significant growth
Jul 22, 2024
Market
The fee will be as much as 2,5% compared to 0,25-0,19% for competitors
Jul 18, 2024
Market
This is the third consecutive month of decline
Jul 18, 2024