The global adoption of cryptocurrencies has been steadily growing, and as part of the ambitious Plan B initiative, we embarked on a mission to transform the picturesque city of Lugano in Switzerland into a thriving crypto hub. Collaborating with the City of Lugano and Tether, the issuer of the world's largest stablecoin USDT, we developed a cutting-edge crypto payment infrastructure that enables businesses to accept cryptocurrency payments in-store. This blog post delves into our journey and highlights the significant milestones achieved in Lugano.
Step 1: The Power of Partnership
Our first crucial step was forging a strategic partnership with the City of Lugano and Tether. This alliance provided the foundation necessary to establish Lugano as a pioneering crypto-friendly city. By leveraging Tether's expertise in stablecoins and our technology prowess, we began laying the groundwork for a robust crypto payment ecosystem.
Step 2: Crypto Payment Infrastructure
The next phase involved the development of a state-of-the-art crypto payment infrastructure. We designed a crypto point-of-sale solution that seamlessly integrates with existing payment systems. Merchants across more than 250 locations in Lugano now have the capability to accept Bitcoin on the Lightning network and Tether on the Polygon network. This technological marvel allows for quick and secure crypto transactions while providing merchants the option to settle in either crypto or the local currency, Swiss francs.
Step 3: Holistic Point-of-Sale Solution
Recognizing the importance of offering versatile payment options, we expanded our solution to encompass card and digital payments as well. Through collaborations with prominent payment service providers and acquirers, like Switchio and Finaro, our holistic point-of-sale software now supports a wide range of payment methods. Merchants can seamlessly process card payments, tap into the growing digital payment landscape, and accept crypto payments—all on a single device or platform. This comprehensive solution ensures that businesses have access to multiple payment methods in one bundle, providing convenience and flexibility to meet their specific needs.
Step 4: Customizability for All Businesses
Understanding that businesses vary in size, market, and preferences, our point-of-sale software is highly configurable. This adaptability allows us to cater to any merchant, ensuring they receive a tailored payment solution that aligns perfectly with their requirements. Regardless of business type or provider, our software empowers merchants to offer their customers a seamless payment experience, encompassing the latest trends in payments.
POS system supporting multiple payment methods
Through the Plan B initiative, our partnership with the City of Lugano and Tether has proven instrumental in establishing Lugano as a frontrunner in crypto adoption. By developing a robust crypto payment infrastructure and offering a holistic point-of-sale solution, we have laid the foundation for a thriving crypto ecosystem in Switzerland. As the transformation unfolds, merchants and residents alike can enjoy the benefits of paying with crypto in-store, online, and even in public services. Our ongoing commitment to innovation and collaboration paves the way for a future where cryptocurrencies play an integral role in everyday transactions.
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