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
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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
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Blocks & Headlines: Today in Blockchain – May 26, 2025 (Lightchain AI, Cetus Hack, Bilal Bin Saqib, The Blockchain Group)
In an era defined by rapid innovation and heightened security scrutiny, today’s blockchain headlines span breakthroughs in decentralized AI, hard lessons from a major DeFi exploit, strategic government appointments, and enhanced governance mechanisms at a leading Bitcoin-focused firm. This op-ed–style briefing analyzes five key developments, offering insights into their broader impact on blockchain, cryptocurrency, Web3, DeFi, and NFTs.
1. Lightchain AI: A Decentralized “Brain” Takes Shape
Source: Bitcoin.com News
What Happened:
Lightchain AI, positioning itself as an Ethereum challenger, is preparing to launch a fully decentralized AI compute network—what its creators dub a “blockchain brain.” By distributing inference and training tasks across a peer-to-peer network, Lightchain aims to eliminate single-entity control, democratize access to AI, and reduce bias introduced by centralized data silos.
Why It Matters:
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Decentralization at Scale: If successful, Lightchain’s model could shift AI development from corporate labs to open networks, mirroring blockchain’s initial ethos.
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Incentivized Participation: Token-based rewards for node operators may drive robust network security and uptime.
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Interoperability Potential: As an EVM-compatible layer, Lightchain could integrate seamlessly with existing DeFi and NFT protocols.
Opinion: Decentralized AI addresses growing concerns over data monopolies and opaque algorithms. Yet technical challenges—latency, model consistency, and economic sustainability—remain formidable. The blockchain community will watch closely to see if Lightchain can harmonize on-chain governance with rigorous AI‐safety standards.
2. Cetus Protocol Hack: Overflow Flaw Exposes $223M Loss
Source: Cointelegraph; Crypto.news
What Happened:
Blockchain security firm Dedaub released a detailed post-mortem of the Cetus AMM hack, attributing the $223 million user loss to an unchecked integer overflow in its liquidity-parameter calculations. Attackers manipulated swap parameters to drain funds before on-chain checks could intervene.
Why It Matters:
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Smart-Contract Audits Aren’t Enough: Even audited code can harbor edge-case bugs; continuous monitoring and formal verification are critical.
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Economic Risks: Large losses erode user trust and can precipitate token price crashes across interconnected DeFi protocols.
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Evolving Attack Vectors: Overflow exploits highlight that attackers still exploit fundamental coding oversights, not just novel zero-days.
Opinion: The Cetus incident underscores the precarious balance between rapid DeFi innovation and rigorous security. Protocol developers must adopt layered defenses—automated fuzzing, invariant checks, and circuit breakers—to safeguard user assets and maintain ecosystem integrity.
3. Pakistan Appoints Bilal Bin Saqib as SAPM on Blockchain & Crypto
Source: Dunya News; The Express Tribune
What Happened:
Prime Minister Shehbaz Sharif has named Bilal Bin Saqib—already CEO and Chief Advisor of the Pakistan Crypto Council—as Special Assistant to the PM (SAPM) on blockchain and cryptocurrency, with state-minister status. His remit includes crafting a FATF-compliant regulatory framework, overseeing virtual asset service providers, and spearheading Bitcoin-mining initiatives.
Why It Matters:
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Policy Leadership: A dedicated SAPM accelerates Pakistan’s efforts to balance innovation with investor protection and anti-money-laundering compliance.
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Economic Potential: Formalizing crypto policy could attract foreign investment and foster homegrown blockchain startups.
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Talent Development: Saqib’s role may amplify educational programs and public–private partnerships to upskill the workforce in Web3 technologies.
Opinion: Elevating blockchain policy to a ministerial level signals Pakistan’s commitment to a forward-looking digital economy. Success will hinge on clear, consistent regulations that protect stakeholders without stifling experimentation.
4. The Blockchain Group Enables Online Voting for June 10 AGM
Source: ActusNews; Webdisclosure
What Happened:
Europe’s first Bitcoin Treasury Company, The Blockchain Group (Euronext Growth Paris), has opened online voting for its Combined General Meeting on June 10, 2025. Shareholders will vote on the 2024 financial statements and a proposal to increase the company’s capital-raising capacity to €10 billion, supporting its aggressive Bitcoin-accumulation strategy.
Why It Matters:
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Enhanced Governance: Online voting increases shareholder engagement and transparency—critical in a sector often criticized for opaque decision-making.
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Capital Flexibility: A €10 billion envelope equips the company to scale Bitcoin holdings or pursue strategic acquisitions rapidly.
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Market Signaling: By involving retail and institutional investors directly, The Blockchain Group underscores its vision of community-driven growth.
Opinion: This move exemplifies how blockchain firms can leverage digital tools to align corporate governance with on-chain principles of decentralization and stakeholder empowerment. As other public crypto companies observe, robust e-voting frameworks could become a competitive differentiator.
5. Bilal Bin Saqib’s Dual Role: Bridging Policy and Industry
Source: Geo.tv; Dawn.com
What Happened:
Beyond his SAPM appointment, Bilal Bin Saqib continues as CEO of the Pakistan Crypto Council (PCC), advising the Finance Minister. His portfolio spans licensing and oversight of Virtual Asset Service Providers (VASPs), FATF-aligned regulations, and launching Bitcoin-mining corridors to utilize surplus energy.
Why It Matters:
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Policy-Industry Synergy: Saqib’s dual hats ensure real-time feedback between nascent regulations and market realities—potentially avoiding mismatches that stifle growth.
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Energy Strategy: Harnessing Pakistan’s energy grid for mining could diversify exports but demands strict environmental and grid-stability measures.
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Global Engagement: His Forbes “30 Under 30” profile and international advisory roles position Pakistan to engage with global standard-setters and investors.
Opinion: The combination of regulatory authority and industry insight in one office is rare globally. If managed transparently, this approach could fast-track Pakistan’s emergence as a hub for compliant, scalable blockchain initiatives.
Key Trends & Takeaways
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Decentralized AI & Blockchain Convergence:
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Projects like Lightchain AI hint at a future where smart-contract networks power not just finance but compute-intensive AI workloads.
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Security Remains Paramount in DeFi:
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As Cetus illustrates, fundamental coding errors can cause systemic shocks—mandating continuous, multi-layered defense.
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Governmental Embrace of Crypto:
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Assigning a SAPM for blockchain in Pakistan mirrors similar moves in other jurisdictions, recognizing crypto’s economic and strategic value.
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Governance Innovation:
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Digital shareholder voting at The Blockchain Group sets new standards for transparency and community engagement in public crypto firms.
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Policy-Industry Integration:
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Leaders who straddle regulatory and commercial spheres may accelerate balanced frameworks, but must safeguard against conflicts of interest.
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Conclusion
May 26, 2025’s “Blocks & Headlines” underscores blockchain’s dynamic interplay of technological breakthroughs, security imperatives, policy evolution, and governance innovation. From the promise of decentralized AI compute to hard-earned lessons in smart-contract safety, today’s developments reaffirm that progress in blockchain hinges on marrying visionary projects with rigorous oversight and inclusive stakeholder engagement. As the industry matures, success will favor those who navigate technical complexity, regulatory nuance, and community empowerment in equal measure.
The post Blocks & Headlines: Today in Blockchain – May 26, 2025 (Lightchain AI, Cetus Hack, Bilal Bin Saqib, The Blockchain Group) appeared first on News, Events, Advertising Options.
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