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Utrust & Lugano are Bringing Crypto Payments to an Entire City

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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

Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

Blockchain

CBiGroup Completes $15M Series A Funding, Focuses on R&D

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CBiGroup Completes $15M Series A Funding, Focuses on R&D

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Blockchain

Correction: CBiGroup Completes $15M Series A Funding, Focuses on R&D

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correction:-cbigroup-completes-$15m-series-a-funding,-focuses-on-r&d

CBiGroup Completes $15M Series A Funding, Focuses on R&D

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Blockchain

COTI V2 changing private play on blockchain via encrypted circuit

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coti-v2-changing-private-play-on-blockchain-via-encrypted-circuit

COTI V2 is revolutionizing blockchain technology with private play through encrypted circuits, offering enhanced speed and efficiency. Currently, the Genesis builder network is live, and the company is inviting developers to join their program. The network supports private play upgrades for Ethereum.

As a privacy-focused Ethereum layer 2 solution, COTI V2 employs advanced encryption technology and encrypted circuits, enabling operations on all devices without compromising personal data.

The primary goal of COTI V2, as outlined in its whitepaper, is to address private play issues on blockchains. Developers can protect privacy through encrypted circuits. The COTI V2 Devnet provides a user-friendly, connectible EVM space (gcEVM) using the Solidity programming language.

Additionally, the COTI V2 network offers developers tools for privacy play with TypeScript and Python SDKs, along with EVM RPC, documentation, a faucet, an explorer, and Hardhat.

COTI has received positive feedback from Civic, a provider of Web3 identification toolkits.

The COTI Foundation plans to launch a privacy-focused growth fund, the ABC Growth Fund, allocating 400 million COTI tokens to provide real-time privacy services.

Developers using the COTI V2 builder network can explore use cases such as confidential DeFi, private payment transactions, stablecoins and RWAs, on-chain data control, confidential AI and machine learning, and decentralized identity recognition.

According to COTI CEO Shahaf Bar-Geffen, the COTI V2 builder and developer program is now available to the public, inviting developers to join the network.

Source: cryptonewsz.com

The post COTI V2 changing private play on blockchain via encrypted circuit appeared first on HIPTHER Alerts.

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