Tether’s Paolo Ardoino Says Bitcoin Adoption in Lugano, Switzerland, Going Well

The bitcoin push is part of the city's "Plan B," which includes hosting a crypto conference this week.

AccessTimeIconOct 28, 2022 at 1:14 p.m. UTC
Updated May 9, 2023 at 4:00 a.m. UTC

LUGANO, SWITZERLAND – Appearing on the opening panel of Plan B Forum here alongside Lugano Mayor Michele Foletti, Paolo Ardoino, chief technology officer of stablecoin issuer Tether, says bitcoin (BTC) adoption in the city is “working well.”

Seven months after the two teamed up to bring widespread use of bitcoin to the city, Ardoino says 40 merchants are already using the crypto with their point-of-sale systems. While that may not seem like much, Ardoino said the aim is to bring adoption along in a “scientific way.”

It’s one thing – as many politicians have done – for an official to say he or she is pro-bitcoin, noted Ardoino, but it's another thing to put a plan together.

To that end, Ardoino said that rather than trying to achieve widespread use quickly, it was more important that things worked smoothly for the initial adopters. He now expects 1,000 Lugano merchants will be able to accept bitcoin as a form of payment in the first quarter of 2023.

Ardoino and Foletti said that in addition to adoption, there are two other prongs to Lugano’s Plan B – education and this week’s forum. On the education front, the Plan B Summer School at Lugano’s Franklin University was well attended in July. And the Plan B Forum also appears to be well attended, with Foletti and Ardoino saying they expect it to become an annual event.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Stephen  Alpher

Stephen Alpher is CoinDesk's managing editor for Markets. He holds BTC above CoinDesk’s disclosure threshold of $1,000.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.