Blockchain
Utrust & Lugano are Bringing Crypto Payments to an Entire City
Lugano, Switzerland–(Newsfile Corp. – October 27, 2022) – Utrust, in collaboration with the city of Lugano & Tether Operation Limited, are bringing crypto payments to an entire city with a new ‘Plan B’ initiative deal.
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.
Utrust & Lugano are Bringing Crypto Payments to an Entire City
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 B, 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. 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
Company – Utrust
Name – Sanja Kon (CEO)
Email – [email protected]
PR Contact Email: [email protected]
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/142107
Blockchain
Bybit Receives Georgian VASP License, Strengthening Global Regulatory Presence
Blockchain
Accredited Solutions, Inc. Announces Strategic Acquisition of GlobeTopper, a $37M Revenue Platform Acquisition to Anchor Fintech Strategy
Blockchain
DIGZAX Enhances Collaborative Security System, Pioneering New Heights in Cryptocurrency Trading
DIGZAX
-
Blockchain Press Releases6 days ago
FDUSD Expands to the Solana Blockchain to Further Strengthen and Bolster Access
-
Blockchain6 days ago
DNA Holdings Venture Inc. and Validation Cloud Partner to Deliver $50M Institutional SOC 2 Compliant Staking Solution on TON
-
Blockchain Press Releases6 days ago
Bybit Launches Localized Website for Kazakhstan Community, Offering Comprehensive Crypto Trading Services
-
Blockchain6 days ago
XSOLLA TO LAUNCH XSOLLA ZK, ADVANCING WEB3 ADOPTION FOR VIDEO GAMES
-
Blockchain5 days ago
Kyrrex Expands into the U.S. Market, Offering Crypto Solutions with Low Fees
-
Blockchain Press Releases4 days ago
Bybit Protects First-Time Copy Traders Against Potential Fiat Losses in Limited-Time Offer
-
Blockchain Press Releases5 days ago
Citrea Raises $14M to Expand Bitcoin Beyond Digital Gold
-
Blockchain5 days ago
Oxbridge / SurancePlus CEO Jay Madhu to Speak at Digital Assets Week in Singapore