Tether Partners with Swiss Municipality of Lugano to Form Working Group

The Municipality of Lugano, Switzerland, has partnered with stablecoin operator Tether to launch a CHF 3 million initiative aimed at encouraging the adoption of blockchain technology and the use of digital assets. Using $BTC, $USDT and LVGA Points, a loyalty token for local residents, locals can conduct transactions such as tax collection and the purchase of public goods and services. In addition, the initiative promises an educational scholarship program within three universities in Lugano, a blockchain summer camp and up to CHF 100 million ($107.2 million) worth of funding to promote blockchain startups.