Lugano to become European main crypto-hub

The Swiss City and Tether partner to establish the European capital of crypto.

The City of Lugano (a municipality located in the Canton of Ticino, Switzerland) announced a partnership with Tether (USDT), the largest stablecoin in the world by market value, to transform the city into the European capital of cryptocurrencies.

The project called Lugano’s Plan ₿ will be held on March 3rd at the Palazzo dei Congressi in Lugano and chaired by Michele Foletti, Mayor of Lugano, and Paolo Ardoino, CTO of Tether. The press conference can be followed in live streaming on YouTube.

“Every city needs a plan that addresses the new realities to bring convenience, freedom, and prosperity to its citizens – is written in the announcement posted by the official event account – Technology is changing the world with Bitcoin, Stablecoins and other digital technologies revolutionizing the financial sector. The way we access public services, as we know them, is changing rapidly with increased digitization”.

Currently the tiny Swiss town of Zug is home of Europe’s largest crypto hub called “Crypto Valley”, hosting hundreds of crypto developer startups and communities. However, Lugano is already a well-established crypto-friendly centre with many Bitcoin ATMs and businesses in the sector that operate there, and with the help of Tether is now a serious candidate to become the main European cryptocurrency centre.