Utrust and Lugano Are Bringing Crypto Payments to an Entire City
The deal will allow public services and e-commerce businesses in the city to accept crypto payments.
SWITZERLAND, November 1, 2022 /EINPresswire.com/ — Utrust, a leading cryptocurrency payment solution has announced that it will be providing crypto payments infrastructure for government services and all e-commerce businesses to the city of Lugano – the largest city in the canton of Ticino, Switzerland. This is part of a broader deal signed by the City of Lugano and Tether Operations Limited to make Lugano one of Europe’s and the world’s main hubs for digital innovation with a focus on blockchain technologies called Plan ₿.
Utrust’s solution allows people to make seamless payments through cryptocurrencies such as Tether & Bitcoin (including Lightning Network). The platform has created the world’s first crypto-payment solution to offer instant transactions, buyer protection, and crypto-to-cash settlements. Now, this solution to provide cheaper, faster, and safer payments for users worldwide at a trivial cost will be put at the service of the entire City of Lugano.
“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”, said Michele Foletti, Mayor of Lugano.
The first part of this plan will happen at a municipal level. All services provided to the city’s government will be payable in crypto through the Utrust widget. The second stage of the process will be to offer Utrust’s solution to all interested e-commerce merchants operating in the city. This will empower merchants not only in their local activities but also in their ability to engage in global trade.
“Payments are an integral part of almost all economic activity, and, consequently, human activity. Making them easier, faster, and 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, CEO of Utrust.
“This technology is the future. Payments should happen near-instantly, globally, and at a trivial cost. Anything else is obsolete. Now, for the first time ever, an entire city will have the tools to make it a reality for tens of thousands of people. The implications are hard to overstate, and we are thrilled to be the ones to make it happen.” said Paolo Ardoino, CTO of Tether.
“Lugano and Utrust have taken a monumental step to adopt cryptocurrency as a means of payment. In this world where digital currencies are being integrated into our daily lives more and more, it is exciting to see initiatives like this one taking off, giving more credibility to crypto from a worldwide point of view. We hope to see more cities adopt crypto payments.” said Aly Madhavji, Managing Partner of Blockchain Founders Fund.
About Utrust
Utrust is the leading cryptocurrency payment solution designed to modernize the financial and payments industry and solve the problems of traditional payment methods by enabling instant transactions, buyer protection, and instant crypto-to-cash settlements for merchants.
Sanja Kon
Utrust
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