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Will this be the new crypto capital of Europe?

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So far, the tranquil little Swiss town of Zug has been considered the crypto hub of Europe. The media also likes to talk about Crypto Valley when it comes to the canton. However, this designation is by no means exaggerated when you look at all the well-known projects that have settled in the municipality on Lake Zug. The headquarters of the ETH Foundation in train. Also the Web3 Foundation has settled in the small Swiss town.

As early as 2016, it had been announced that it wanted to accept BTC for selected services.

Now, however, a new competitor is appearing, who probably also has some plans in terms of crypto adoption.

The city of Lugano is about 170 kilometers south of Zug. Due to its Mediterranean flair and its location on Lake Lugano, it has so far only been an attraction for tourists. That could change soon, as Lugano seems to have some plans for crypto adoption.

Apparently, the city has been cooperating for a long time tether. This is at least according to a tweet from Paolo Ardoino, CTO at Bitfinex and Tether. He emphasizes that the city of Lugano and Tether have been working together for some time and Luganos “Plan B” prepare (see tweet below).

In addition, Ardoino refers to a crypto conference that will take place on March 3, 2022 in Lugano and at which they apparently want to announce more details. The mayor of the city will also attend this conference. It can therefore be assumed that this is not just a marketing gimmick, but that people actually want to get serious about BTC and Co. A request from BTC-ECHO to the press department of the city of Lugano has so far remained unanswered.

It remains to be seen what exact plans the city will announce. After all, Lugano is the third largest financial center in Switzerland after Geneva and Zurich. In addition to the sister municipality of Zug, other cities and countries had already made their cryptocurrency ambitions public. One of the most prominent players is of course El Salvador, whose President Nayib Bukele quickly got down to business and introduced BTC as legal tender alongside the US dollar. In addition, the city of Miami should also be mentioned, whose mayor Francis Suarez had already publicly come out as a big BTC and crypto supporter. In Europe, it has so far been Malta, Gibraltar and Switzerland that have been considered particularly crypto-friendly. It remains to be seen whether Zug can continue to assert itself as the crypto mecca par excellence. In any case, with Lugano another player has stepped onto the scene to overtake the Swiss town.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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