McDonald’s accepts Bitcoin in the Swiss city of Lugano
McCrypto: McDonald’s fast food chain started accepting Bitcoin payments in the Swiss city of Lugano.
Crypto enthusiasts published a video where they ordered food through McDonald’s electronic kiosk. They then paid in cryptocurrency via a mobile app.
In addition to the Bitcoin symbol, the Stablecoin Tether (USDT) logo is also displayed on the terminal.
Cryptocurrencies and Lugano
Back in March, officials in Lugano announced that they would make Bitcoin, USDT and the city’s LVGA token “de facto” legal tender in the city. The announcement was made during the Plan ₿ conference with Mayor Michele Voletti and Tether CTO Paolo Ardoino.
The decision follows a joint initiative to transform Lugano into the “European Bitcoin Capital.”
As part of its collaboration to develop the blockchain hub, Tether said it would allocate at least $107 million to a dedicated fund. The local government allocated 3.21 million dollars for this purpose.
In addition to funding local blockchain startups, the funds are intended to support business integration of planning tools into day-to-day operations.
McDonald’s branches in El Salvador began accepting Bitcoin as payment in September 2021. This was a requirement for commerce after Bitcoin became legal tender in the country.
McCrypto: McDonald’s Other Ventures
Crypto payments aren’t McDonald’s only foray into Web3. Earlier this year, an iconic fast food chain indicated it wanted to enter the metaverse. According to trademark attorney and founder of Gerben Intellectual Property, Josh Gerben, the company has filed ten trademark applications for its virtual space.
The filings, filed on February 4, point to plans for a “virtual restaurant offering real and virtual goods.” McDonald’s will also operate a “virtual home delivery restaurant.” In addition, the restaurant will offer “downloadable media files” such as artwork, audio files, videos and NFTs.
Also, McDonald’s wants to include the McCafe chain of coffee shops in its metaverse plans. The brand will offer entertainment services such as “live and virtual online concerts and other virtual events.”
The restaurant chain also previously released an NFT called the “Kubik Big Mac Cube” in China. This was to celebrate 31 years on the Chinese market. In addition to three decades in China, NFT marked the opening of a new headquarters in Shanghai.
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