McDonald’s Accepts Bitcoin in the Swiss City of Lugano
McCrypto: McDonald’s fast-food chain began accepting Bitcoin payments in the Swiss city of Lugano.
Crypto enthusiasts published a video of them ordering food through the McDonald’s electronic kiosk. They then paid in cryptocurrency via a mobile app.
In addition to the Bitcoin symbol, the Stablecoin Tether (USDT) logo also appears on the terminal.
Cryptocurrencies and Lugano
Back in March, Lugano officials 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 CTO Tether, 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 $107m to a dedicated fund. The local government allocated $3.21m for this purpose.
In addition to financing local blockchain start-ups, the funds are intended to support the business integration of planning tools in daily operations.
McDonald’s branches in El Salvador began accepting Bitcoin as a payment in September 2021. This was a requirement for trading after Bitcoin became legal tender in the country.
McCrypto: McDonald’s Other Ventures
Crypto payments are not the only McDonald’s foray into Web3. Earlier this year, an iconic fast-food restaurant chain indicated that it wanted to enter the metaverse. According to trademark lawyer and founder of Gerben Intellectual Property, Josh Gerben, the company has filed ten trademark applications for its virtual space.
The applications submitted on February 4 point to plans for a “virtual restaurant offering real and virtual goods.” McDonald’s would also like to run a “virtual home delivery restaurant.” Additionally, the restaurant will provide “downloadable media files” such as artwork, audio files, videos and NFTs.
Moreover, McDonald’s would like to include its McCafe chain of coffee shops in its metaverse plans. The brand would offer entertainment services such as “live and virtual online concerts and other virtual events.”
The restaurant chain also previously released an NFT called “Kubik Big Mac Cube” in China. This was to celebrate 31 years in the Chinese market. In addition to three decades in China, the NFT marked the opening of a new headquarters in Shanghai.
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