Lugano, a city in Switzerland, recently rolled out an update to its MyLugano payment app, incorporating the Polygon (MATIC) PoS. This new update allows the app’s 30,000 users to access a multichain cryptocurrency wallet, catering to more experienced users.
MyLugano’s new section offers a wallet similar to MetaMask, opening doors to the cryptocurrency world for its users. The first cryptocurrency to be integrated into the app is ckBTC, described as an innovative digital asset based on the Internet Computer Protocol (ICP) technology.
In addition to the crypto wallet, MyLugano also provides access to various dApps and enables users to benefit from a loyalty circuit using LVGA – Lugano’s own stablecoin. Furthermore, the city introduced a new non-fungible token (NFT) collection, based on physical artwork by Yuri Catania. This unique collection is set to transform 2,000 paper flowers into real ones over time, living on in the MyLugano NFT collection.
Europe’s Emerging Crypto Hubs
Switzerland has been positioning itself as a cryptocurrency hotbed in Europe, with cities like Lugano and Zug leading the way. Zug made headlines by allowing its citizens to pay taxes and other public fees using Bitcoin (BTC). Meanwhile, neighboring Liechtenstein has been a crypto pioneer since 2019, implementing legislation specifically focused on cryptocurrencies and announcing plans to facilitate Bitcoin payments.
The interest in cryptocurrency extends beyond the Alpine nations, with other European countries showing increased interest. The European Central Bank (ECB) is developing a digital euro, and German banks have been seeking crypto custody licenses. DZ Bank and Commerzbank, Germany’s third and fourth largest banks, have already received these licenses.
The rise of crypto adoption in Europe is evident, with countries like Switzerland and Liechtenstein leading the way. As the continent continues to embrace digital currencies, the landscape of finance is undergoing a significant transformation.
This news of Lugano integrating Polygon (MATIC) PoS into its MyLugano payment app is a testament to the growing acceptance and integration of cryptocurrencies into mainstream financial services. With the introduction of new features and access to various digital assets, the city is embracing the future of finance and technology.
I have been writing about crypto for over two years. I have a vast amount of experience in the industry and my work has been featured on some of the biggest publications in the space.
