Key Takeaways
- MyLugano is set to launch a new NFT collection celebrating the work of Swiss-based visual artist Yuri Catania.
- The city aims to transform itself into a blockchain hub
The Swiss city of Lugano is making significant strides in its crypto adoption journey, with the integration of Polygon into its MyLugano payments app. This move is part of Lugano’s broader initiative to position itself as Europe’s blockchain capital.
The MyLugano app, developed in collaboration with Tether, is a crypto-friendly platform that serves approximately 30,000 users, nearly half of the city’s population.
Announced on November 22, the integration of Polygon’s proof-of-stake (PoS) protocol into MyLugano enables users to access a multi-chain digital wallet for personal custody. The updated version of the app already supports several tokens, with plans to incorporate more in the future. Polygon, known for being a network provider for tens of thousands of decentralized applications (DApps) and securing assets worth $5 billion, has been a partner with Lugano since at least 2022.
The MyLugano app facilitates payments in various digital assets, including Bitcoin, Tether, and Lugano’s own stablecoin, LVGA. The city aims to transform itself into a blockchain hub, allowing citizens and businesses to use cryptocurrencies for a range of transactions, from annual taxes and parking tickets to public services and student tuition fees.
The integration of Polygon’s MATIC token into the app further expands the list of supported tokens. Polygon’s PoS protocol will provide the necessary infrastructure for processing some of these transactions. MyLugano users can now explore tens of thousands of DApps hosted on Polygon’s PoS Chain.
As part of this crypto-friendly ecosystem, MyLugano is set to launch a new non-fungible token (NFT) collection celebrating the work of Swiss-based visual artist Yuri Catania. This collection will depict a 40 by 8-meter high installation comprising over 2,000 paper flowers at the Palazzo dei Congressi, a local convention center.
Participants who contributed to the artwork’s installation will receive NFTs signed by the artist. Lugano’s commitment to crypto adoption is evident in its establishment of a Center of Excellence for Blockchain Adoption in partnership with Tether in March 2022.
The city administration envisions a future where citizens and businesses can use cryptocurrencies for all goods and services, ultimately treating digital assets on par with traditional fiat currencies.
While Lugano is making significant strides, it is not the first Swiss city to embrace crypto payments for taxes, as Zug and Zermatt have already pioneered this initiative. Nonetheless, Lugano’s success could potentially inspire further crypto adoption not only within Switzerland but across the broader European bloc.
