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).