Multinational fast-food chain McDonald’s has started accepting Bitcoin and USDT as payments in the Swiss town of Lugano. Customers can order and pay for their burgers at kiosks using a digital wallet app on mobile.
The PoS machine will display a QR code to proceed with payments using either Bitcoin or USDT. The news was first reported by Bitcoin Magazine through a tweet. It posted a video showing how customers are ordering and paying for their orders in crypto using a mobile wallet app.
🇨🇭 Paying at McDonald's with #Bitcoin in Lugano, Switzerland. pic.twitter.com/8IdcupEEKQ
— Bitcoin Magazine (@BitcoinMagazine) October 3, 2022
For perspective, western Europe is witnessing an increased adoption rate for cryptos despite the bearish market sentiment. In fact, McDonald’s accepting BTC and USDT in Lugano is not a surprising development. In March 2022, the city of Lugano announced that it will accept Bitcoin, USDT, and LGVA tokens as legal tender. The Italian-speaking region of Switzerland has a population of about 63,000.
On March 3, 2022, the city also signed a memorandum of understanding with Tether for the launch of Plan B. According to this plan, Tether will launch two investment funds of $106 million and $3 million as investment pools for investing in crypto startups and to promote the use of cryptos in daily transactions across the city.
Besides, the city allows its residents to pay municipal taxes in cryptos. Cryptos can also be used to pay for public services such as parking tickets and tuition fees for students.
McDonald’s first started accepting Bitcoin as payment in El Salvador, the first country to make it legal tender in September 2021. The international financial community had slammed the move and after a year, the results have been mixed. The central American country currently holds a total of 2,381 BTC.
