Bitcoin: the new ambassador of El Salvador in Lugano (Switzerland)
Bitcoin conquers hearts – After the salvador who made Bitcoin (BTC) its national currency, the Swiss is probably one of the most crypto-friendly countries on the planet. The city of Lugano from the Italian-speaking canton of Ticino, is particularly at the forefront of Bitcoin adoption. A new partnership between the Swiss city and El Salvador should further accelerate this adoption.
Salvadorans and Swiss hand in hand around Bitcoin
Since the salvador made of Bitcoin a legal tender currency, the oldest cryptocurrency continues to integrate into the economies of countries all over the world. The Swiss is particularly fond of this new crypto asset class.
The society Tether issuer of the stable coin USDT had organized, in recent days, a forum called “Map ₿”. This plan aims to facilitate Bitcoin and stable coin payments in the city of Lugano. The latter is considered the economic capital of the canton of Ticino.
El Salvador’s Ambassador to the United States, Milena Mayorga present at the forum, has announcement that his country and Lugano have signed a memorandum of understanding on the economic cooperation of the two territories. This mutual assistance will include support for initiatives aimed at promote adoption of Bitcoin and other cryptocurrencies in their respective regions. It is also about a “Bitcoin office” of El Salvador (a sort of Bitcoin embassy), which will establish itself in the city.
“I am very happy to have been able to announce this historic partnership between the innovative city of Lugano and my beloved homeland, El Salvador. We share a love for innovation and bold ideas. (…) My fellow Salvadorans and I are very excited about the promise of Bitcoin. And I look forward to seeing how this initiative will help increase access to security and economic freedom for all. (…)”
Milena Mayorga
The Mayor of Lugano, Michele Foletti, was also present at the conference. He welcomed this agreement around the Plan ₿ and specified that his city was a land of “innovation and opportunity ”therefore conducive to hosting Bitcoin and crypto-assets.
On the Tether side, we recall the many advancements what cryptos bring. Besides allowing banking forgotten by traditional finance, they allow citizens to manage their assets without control (nor the counterparty risk) of banking intermediaries.
“We would like to congratulate both the city of Lugano and El Salvador for these exciting announcements. Today, the dream of financial democratization has taken a big step towards reality with Lugano and El Salvador entering into a formal partnership of economic inclusiveness and financial freedom. We congratulate the pioneers leading Lugano and El Salvador for launching this initiative. (…)”
Paolo Ardoino, CTO (technical director) of Tether
Another proof that Bitcoin is making great strides on the side of our Swiss friends: the bank Post Finance (the Swiss equivalent of our Postal Bank) will facilitate access to cryptos to its customers. The banking establishment, present throughout Switzerland, wishes to offer them its own trading and of keep of digital assets.
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