Tether company will create a Bitcoin capital in Switzerland

Tether and the Swiss city of Lugano have agreed to create a European Bitcoin capital jointly. The project details are promised to announce on March 3 at a press conference. 

According to the company's Twitter account, the project is called "Lugano's Plan ₿." The project's details have not been disclosed, but the company promises to revolutionize the city's financial sector.

As a reminder, in 2020, the city launched a special application MyLugano, which allows you to pay for purchases with the LVGA token. A little later, the city also implemented its own blockchain, 3Achain. It is intended to be used for a wide range of tasks, such as confirming the authenticity of documents or rights, assisting in tracking production processes, and enabling secure online voting. 

It should be noted that Switzerland actively encourages various companies to develop in the field of cryptocurrencies and blockchain. Just recently, the Central Bank of Switzerland successfully tested CBDC, and before that, SEBA Swiss bank launched first regulated gold token.