Fun

Utrust and Lugano Are Bringing Crypto Payments to an Entire City

News Feed - 2022-10-28 02:10:25

Utrust and Lugano Are Bringing Crypto Payments to an Entire City press release


PRESS RELEASE.October 27th, Lugano Switzerland — The city of Lugano is the largest city in the canton of Ticino, Switzerland. They are also the economic capital of Southern Switzerland, strategically located between the metropolitan areas of Milan and Zurich. Part of Lugano’s appeal as a vibrant financial center is its commitment to the adoption and usage of cryptocurrencies.


On the 3rd of March 2022, the City of Lugano and Tether Operations Limited signed a Memorandum of Understanding to collaborate on an initiative called Plan ₿, meant to make Lugano one of Europe’s and the world’s main hubs for digital innovation with a focus on blockchain technologies. A part of this plan would always be to bring crypto payments to the whole community, providing everyone with the opportunity to enjoy faster, safer, and less expensive payments.


Utrust will be providing crypto payments infrastructure both for government services and all e-commerce businesses. Utrust’s solution allows people to make seamless payments through cryptocurrencies such as Tether & Bitcoin (including Lightning Network).


Utrust has created the world’s first crypto payment solution to offer instant transactions, buyer protection, and crypto-to-cash settlements. Now, this ability to provide cheaper, faster, and safer payments for users worldwide and near-instant and secure global settlements at a trivial cost, accessible to merchants globally, will be put at the service of the entire City of Lugano.


Michele Foletti, Mayor of Lugano stated:


“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”.


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. This includes anything, from services and fees to citizens paying their taxes.


Sanja Kon, Utrust CEO stated:


“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”


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. Depending on payment processors and geography, merchants can be charged up to 12% in fees. That amount, which can easily mean the difference between profitability and bankruptcy, can be lowered by 90% with Utrust’s gateway.


Paolo Ardoino, Tether CTO stated that:


“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.”


Michelle Foletti, Mayor of Lugano, Sanja Kon, Utrust CEO, and Paolo Ardoino, Tether CTO, are all available for further comments and interviews


About Utrust


Web3 payments technology. The radically better way to pay and get paid globally. 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.


Utrust Socials


Twitter |Telegram |Medium |Facebook |Instagram |LinkedIn |Reddit


Media Contact Details


Contact Email:press@bitcoinprbuzz.com


Utrust is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest


 


 


 


 


  Tags in this story Lugano, UTRUST


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. Media


Bitcoin.com is the premier source for everything crypto-related. Contact the Media team on ads@bitcoin.com to talk about press releases, sponsored posts, podcasts and other options. UniLend V2 Launched: Becomes 1st True Permissionless Lending and Borrowing Protocol PRESS RELEASE | 7 mins ago Moldova Bans Cryptocurrency Mining Amid Energy Crisis Caused by War in Ukraine MINING | 1 hour ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleECB Raises Benchmark Rate by 75bps and Tones Down Long-Term Refinancing Operations Next articleCrypto Firm Freeway Updates Community, Says Trading Strategy ‘Failed’ and ‘Caused a Substantial Loss’ More Popular NewsIn Case You Missed ItSEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale


Grayscale Investments" CEO explains that the U.S. Securities and Exchange Commission (SEC) could potentially violate the Administrative Procedure Act by not approving a spot bitcoin exchange-traded fund (ETF). SEC Approving Spot Bitcoin ETF Is "a Matter of When and Not ... read more.Bitcoin ATM Operator Indicted in New York Allegedly Running Illegal Business Attracting Criminals Bill ‘On Digital Currency’ Caps Crypto Investments for Russians, Opens Door for Payments UAE Airliner Emirates to Launch NFTs and Experiences in the Metaverse Digital Ruble ‘Much Needed,’ Russia’s Central Bank Says, Won’t Delay Testing

News Feed

NFT ‘ETH in Mellieha’ Set to Go on Auction for Legal Rights to Number Plate
NFT ‘ETH in Mellieha’ Set to Go on Auction for Legal Rights to Number Plate sponsored ETH in Mellieha is the latest in a long line of NFT experiments that aim to challenge tradi
Tom Blackstone16 hours agoOptimism network transactions surged 67% following Bedrock upgrade — NansenThe Optimism layer-2 network saw less than 300,000 transactions per day around the time of the upgrade, but this numb
More Than 50 Crypto Marketing Agencies Survived the Crypto Winter
More Than 50 Crypto Marketing Agencies Survived the Crypto Winter The cryptocurrency industry has grown exponentially and there are many facets to the blockchain industry. One sp
Stablecoin delistings in Europe spell change for crypto exchanges, issuers
Andrew Singer10 hours agoStablecoin delistings in Europe spell change for crypto exchanges, issuersThe largest stablecoin issuers are non-European, but they will have to get compliant fast if they don’t want to lose gr
Anonymous Claims It Has Released 28GB of Bank of Russia Documents
Anonymous Claims It Has Released 28GB of Bank of Russia Documents Hacking group Anonymous has reportedly published a large amount of data allegedly belonging to the Bank of Russia.
Samsung Latam Launches ‘House of Sam’ Metaverse Experience in Decentraland
Samsung Latam Launches "House of Sam" Metaverse Experience in Decentraland Samsung Latam, the regional division of the electronics giant, has decided to present its own space in De
Latest EU Sanctions Expected to Stimulate Russia’s Own Crypto Market, Exchanges Maintain Services
Latest EU Sanctions Expected to Stimulate Russia’s Own Crypto Market, Exchanges Maintain Services The new crypto sanctions imposed by the European Union are likely to spur the de
Kenya Central Bank Governor on CBDC: It’s About Getting It Right Rather Than Being First
Kenya Central Bank Governor on CBDC: It"s About Getting It Right Rather Than Being First The Central Bank of Kenya (CBK) governor, Patrick Njoroge, has said his institution is curr
Study: Top-Tier Cryptocurrency Exchanges Increased Their Market Share by 13% Since October 2020
Study: Top-Tier Cryptocurrency Exchanges Increased Their Market Share by 13% Since October 2020 A recent study unveiled that top-tier cryptocurrency exchanges in
Evan Luthra7 hours agoOpinion: Why did Bitget seize more than $200,000 of my money?Bitget seized more than $200,000 of my cash. Now its executives won’t tell me what they"re doing with it, or if they intend to return i
Weekly NFT Sales Drop 13% While Crypto Prices Rebound From Market Rout
Weekly NFT Sales Drop 13% While Crypto Prices Rebound From Market Rout Last week, non-fungible token (NFT) sales remained unscathed while crypto asset spot markets were dismal. How
Marvin Bertin11 hours agoCentralized vs. decentralized orders matching on DEXsCentralized and decentralized order batchers are central to this discussion, each representing a different approach to order matching.466 Tota