McDonald's in Swiss town starts to accept Bitcoin and Tether as payment method

McDonald's customers are now allowed to pay for purchases with Bitcoin in the Swiss town of Lugano. The town, whose population hits 63,000 people, will be a kind of cryptocurrency hub in Western Europe.

In March this year, the city entered into an agreement with Tether Operations Limited, launching "Plan B." According to it, Tether established two funds. The first fund contained a $106 million (or 100 million Swiss francs) investment pool aimed at crypto startups. The other one was worth $3 million (3 million Swiss francs). 

With this project, the residents will be able to use cryptocurrency as a payment method for taxes, parking lots, utilities, and education. Authorities express hope that more than 200 stores and businesses that are located in the area will also accept payment in crypto for services and goods in the long term.