El Salvador & Lugano signed a memorandum of understanding (MoU), which will allow the El Salvador government to show physical presence in Lugano.
Lugano is a city in Switzerland and Switzerland is a crypto-friendly Central European country. This year, Lugano showed a significant inclination toward the crypto sector, to bring better experiences for the citizens with the use of crypto & blockchain-based supported services in the city.
On 28 October, Lugano city announced that it had signed an MoU with the pro-Bitcoin country El Salvador. Under the MoU, El Salvador will show its physical presence in Lugano city and further will help Lugano to use Bitcoin – blockchain technology at a better level.
Joaquín Alexander Maza Martelli, El Salvador’s ambassador to the United Nations Office in Geneva, said that the latest step will help the Bitcoin community because it is an alternative financial system that allows global trade easily.
Samson Mow, former chief strategy officer at Blockstream, shared his opinion on this latest step by Lugano & El Salvador and said that it is going to be the next step to bring Bitcoin adoption in the nation-states and cities.
“(El Salvador and Lugano are) going to start working together and collaborating on joint initiatives. I think that’s the way we push each other forward — basically create alliances between places that have adopted Bitcoin,” Mow said.
Earlier this, in March 2022, The chief technical officer of USDT stablecoin company Tether, Paolo Ardoino, said that Lugano-based companies are working to bring a service for the Lugano citizens to allow them to pay their taxes in bitcoin & some other crypto assets.