Swiss City of Lugano Embraces Diverse Digital Currencies Future

The Swiss city of Lugano is open to a future where Bitcoin, stablecoins, and central bank digital currencies (CBDCs) coexist, according to Paolo Bortolin, deputy CFO of the city. Bortolin believes these digital currencies can serve different purposes for users. While wholesale CBDCs are expected to arrive soon, the future of retail CBDCs is less certain due to concerns like privacy. Stablecoins, issued by private entities, are likely to be important elements of the digital financial ecosystem, potentially competing for dominance. Lugano recently extended support for crypto payments, accepting Bitcoin and USDT for taxes and fees.