Share this article
Tether’s Paolo Ardoino Says Bitcoin Adoption in Lugano, Switzerland, Going Well
The bitcoin push is part of the city's "Plan B," which includes hosting a crypto conference this week.
Updated May 9, 2023, 4:00 a.m. Published Oct 28, 2022, 1:14 p.m.
LUGANO, SWITZERLAND – Appearing on the opening panel of Plan B Forum here alongside Lugano Mayor Michele Foletti, Paolo Ardoino, chief technology officer of stablecoin issuer Tether, says bitcoin (BTC) adoption in the city is “working well.”
Seven months after the two teamed up to bring widespread use of bitcoin to the city, Ardoino says 40 merchants are already using the crypto with their point-of-sale systems. While that may not seem like much, Ardoino said the aim is to bring adoption along in a “scientific way.”
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
It’s one thing – as many politicians have done – for an official to say he or she is pro-bitcoin, noted Ardoino, but it's another thing to put a plan together.
To that end, Ardoino said that rather than trying to achieve widespread use quickly, it was more important that things worked smoothly for the initial adopters. He now expects 1,000 Lugano merchants will be able to accept bitcoin as a form of payment in the first quarter of 2023.
Ardoino and Foletti said that in addition to adoption, there are two other prongs to Lugano’s Plan B – education and this week’s forum. On the education front, the Plan B Summer School at Lugano’s Franklin University was well attended in July. And the Plan B Forum also appears to be well attended, with Foletti and Ardoino saying they expect it to become an annual event.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Brazil’s Largest Asset Manager Recommends Investors Put Up to 3% of their Money in Bitcoin to Hedge Against FX, Market Shocks
The recommendation is in line with other global asset managers like BlackRock and Bank of America suggesting small portfolio allocations to the largest cryptocurrency.
What to know:
- Itaú Asset Management recommends Brazilian investors allocate 1-3% of portfolios to bitcoin for diversification, citing its low correlation with traditional assets.
- The recommendation is a measured approach, suggesting a small, steady exposure to bitcoin as a complementary asset.
- In a year-end analyst’s note, the firm called for a disciplined, long-term mindset, warning against market timing and suggesting that a small allocation can act as a partial hedge and offer access to global returns.
Top Stories
