City of Lugano integrates Polygon into its crypto-payment system

The metropolis of Lugano, the economical superior of Italian-speaking confederate Switzerland, volition integrate the Polygon proof-of-stake (PoS) protocol into its crypto-friendly outgo app, MyLugano. 

According to the announcement connected Polygon Labs’ website from Nov. 22, the updated mentation of MyLugano features a multichain integer wallet for idiosyncratic custody. The property merchandise mentions “several tokens” already integrated into this app conception and the plans to adhd more.

The web supplier for tens of thousands of DApps with $5 cardinal successful secured assets, Polygon has been a spouse for the Swiss city since at slightest 2022. At the time, it became an infrastructure spouse for the city’s stablecoin, LVGA, offering its rails solution.

According to the statement, MyLugano is besides launching a caller NFT postulation dedicated to the enactment of creator Yuri Catania. This is simply a nonfungible mentation of a 40-meter-long, 8-meter-high enactment connected the partition of the Palazzo dei Congressi. The creation portion volition beryllium tokenized connected the Polygon network.

Related: Polygon state fees spike 1,000% amid Ordinals-inspired token craze

Lugano is 1 of the world’s leaders successful crypto adoption. The MyLugano app, built successful collaboration with different crypto company, Tether, serves 30,000 users, oregon astir fractional of the metropolis population, helping them to wage section small- to medium-sized traders successful integer currencies.

In March 2022, Lugano established a Center of Excellence for Blockchain Adoption successful concern with Tether to “become a large European blockchain hub.” The metropolis medication plans to alteration citizens and companies to wage cryptocurrency taxes soon. The eventual extremity is to judge crypto for outgo of each goods and services, equating it with a fiat currency.

Despite its efforts, Lugano won’t beryllium the archetypal Swiss metropolis to let paying taxes successful crypto, arsenic the canton of Zug and Zermatt municipality person already done it.

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