Following Lugano's «Plan B» crypto conference recently, Tether’s chief technology officer Paolo Ardoino said the city's use of digital currencies will increase next year. He also told «10ztalk.com» what the stablecoin company has planned.
With Lugano's «Plan B» conference drawing an audience of over 1,700 paying participants, Paolo Ardoino told «10ztalk.com» that the conference could become the city’s recurring crypto event.
«Plan B» is a partnership between the city and stablecoin company Tether, which runs various initiatives to promote the use of blockchain. One project aims to enable the city's merchants to accept digital currencies Bitcoin, stablecoin Tether, as well as the city’s own LVGA currency.
Ambitious Targets
From McDonald's to local hotels and restaurants, 60 merchants have signed up to accept crypto payments so far, a number Ardoino sees rising to 1,000 by mid-2023.
To get there, the city and Tether have partnered with payment company GoCrypto, providing free point-of-sale terminals, leading to more transactions in Bitcoin and Tether.
«We want to create a system whereby merchants are not scared of this technology and understand that they can adopt it without worrying about volatility,» he told the publication.
Swiss Franc Tether?
Ardoino, who is also CTO of Bitfinex, sees a boom emerging for security tokens next year with Bitfinex Securities becoming the leading platform.
As a stablecoin linked to the US dollar, USDT has done particularly well in emerging markets where interest in the dollar's reserve currency status is high.
Still, Ardoino doesn’t rule out issuing a stablecoin pegged to the Swiss franc, he said.
