McDonald's Begins Accepting Bitcoin and Tether in a Swiss Town

In the Swiss town of Lugano, the global fast food chain is among the first to participate in a crypto-friendly experiment.

McDonald's Begins Accepting Bitcoin and Tether in a Swiss Town

In the Italian-speaking region of Switzerland, where bitcoin adoption is growing rapidly, multinational fast food chain McDonald's has begun accepting Bitcoin (BTC$19,066) as a payment method in Lugano, a city of 63,000 people.

On Oct. 3, Bitcoin Magazine uploaded a one-minute video of ordering food from McDonald's digital kiosk and paying for it at a regular register using a mobile app. There is a Tether (USDT$1.00) logo that could be spotted next to the Bitcoin symbol on the credit cash machine, which is not surprising, as in March 2022 the city of Lugano announced it would accept Bitcoin, Tether, and the LVGA token as a legal tender.

A memorandum of understanding was signed between the city and Tether Operations Limited on March 3, 2022, initiating the so-called "Plan B." As part of this plan, Tether has set up two funds — one for investing in cryptocurrency startups, and the other for encouraging crypto adoption by shops and businesses throughout the city. The first is $106 million, or 100 million Swiss francs.

As a part of the project, residents of Lugano will be able to pay their taxes using cryptocurrency. This will include paying parking tickets, paying for public services, and paying tuition fees for students. A total of 200 shops and businesses in the area are also expected to accept crypto payments for goods and services.

During an interview with Cointelegraph in June, Paolo Ardoino, chief technology officer of Tether and Bitfinex, stated that Plan B was "going great," and he announced a two-week educational event on blockchain and cryptocurrencies.

El Salvador became the first country in the world to accept Bitcoin as a legal tender in September 2021. Since then, McDonald's has been accepting Bitcoin at all 19 stores nationwide.

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