Fast food chain McDonald's has started accepting cryptocurrency in Switzerland. But so far only in one city.
What is known
Residents and guests of the city of Lugano, which is located near the Italian border, can pay for a Big Mac (or other food) with cryptocurrency. The city's population is just over 60,000 people.
To pay for a purchase with cryptocurrency, you needplace an order through a self-service kiosk, receive a check and go to the cashier. Bitcoin Magazine on Twitter posted a video of paying for food at McDonald's with Bitcoin, but the logo of another cryptocurrency, Tether, is also visible on the cash register.
??????? Paying at McDonald's with #Bitcoin in Lugano, Switzerland. pic.twitter.com/8IdcupEEKQ
— Bitcoin Magazine (@BitcoinMagazine) October 3, 2022
We add that the authorities of Lugano last springsigned a Memorandum of Understanding with Tether Operations Limited, according to which the company created two funds worth $3 million and $106 million. The first is aimed at encouraging firms to accept cryptocurrency, and the second is aimed at startups. Residents of the city with the help of digital currency will be able to pay for parking, utility bills and pay taxes.