Tag: Bitcoin Adoption

Tether’s Plan B Collaborates with FC Lugano to accelerate Bitcoin Adoption

by Blockchain News

On 24 August 2023, Plan ₿, an initiative co-founded by Tether and the City of Lugano with the aim of leveraging bitcoin technology to transform the city’s financial infrastructure, has announced its official sponsorship of FC Lugano. This historic Swiss football club, established in 1908, is the sole top-tier club in the Italian-speaking region of Switzerland. With Swiss Championship wins in 1938, 1941, and 1949, and Swiss Cup victories in 1931, 1968, 1993, and 2022, FC Lugano has been a significant player in the Credit Suisse Super League since 2015 and has made its mark in Swiss football history.

This collaboration signifies a notable stride in enhancing cryptocurrency representation and deepening connections with the Lugano community. “Tether, as a part of Plan ₿, is excited to join hands with FC Lugano in a journey that combines the passion of football with the innovation of cryptocurrency,” remarked Paolo Ardoino, CTO of Tether. “This collaboration not only underscores our commitment to the vibrant Lugano community but also signifies our belief in the power of crypto to drive positive change locally and globally.”

Tether, the issuer of USDT, a pioneer in stablecoin technology, seeks to revolutionize the global financial landscape. As the creator of the industry’s most transparent and liquid stablecoin, Tether focuses on bridging the gap between traditional finance and the potential of decentralized finance. Their innovative spirit is evident in this partnership, which goes beyond conventional sponsorship.

In the foreseeable future, fans will have the option to purchase tickets, merchandise, food, and beverages within the stadium using Bitcoin, Tether USD ₮, and LVGA. This move aligns with Tether and the City of Lugano’s objective to promote cryptocurrency adoption in the region, collaborating closely with the local municipality to further these initiatives. The sponsorship will also feature front-of-shirt branding during international competitions, amplifying the global visibility of Lugano’s Plan ₿.

Martin Blaser, CEO of F.C. Lugano SA, expressed his enthusiasm, stating, “We are thrilled to welcome Lugano’s Plan ₿ as an official sponsor of FC Lugano. What began with an advertising presence at the 2022 Swiss Cup final in Bern will continue over the next two years in an attractive and innovative manner for both parties.”

Lugano’s Plan ₿, marked by a Memorandum of Understanding signed in March 2022, aims to integrate blockchain and Bitcoin throughout the city, impacting various facets of daily life for Lugano residents. This includes everything from small transactions with local merchants to larger endeavors like annual tax payments.

Image source: Shutterstock

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Switzerland City Lugano Signs Agreement With El Salvador To Enhance Bitcoin Adoption in The Regions

by Blockchain News

On Friday, the Swiss city of Lugano and the country of El Salvador signed an economic cooperation agreement aimed at boosting Bitcoin adoption in their own regions and neighboring states and nations.

The two crypto friendly jurisdictions signed a memorandum of understanding (MOU) on economic cooperation at Lugano city’s Plan B event on October 28.

While speaking at Lugano’s Plan B Forum on Friday, Lugano Mayor Michele Foletti said El Salvador’s Bitcoin adoption as legal tender is part of the city’s interest in the agreement. The Lugano Mayor said the partnership will enable the city and the pro-crypto country (Switzerland) to develop a physical government presence in bids to build cooperation with educational and research institutions.

 Milena Mayorga, El Salvador’s ambassador to the U.S., also appeared on the stage, saying that her country plans to open a “Bitcoin office” in Lugano staffed with a new Honorary Consul to promote Bitcoin adoption in the city, Italy, and Europe. She said: “With this agreement, El Salvador is now much closer to Europe.”

Meanwhile, former Blockstream chief strategy officer Samson Mow also spoke at the event and said the agreement is the “next step” in nation-states and cities adopting Bitcoin. He described the collaboration between El Salvador and Lugano as the way alliances were created between places that have adopted Bitcoin.

Other personalities who later joined the stage include Mexican politician Indira Kempis, Serbia’s Prince Filip Karađorđević, and Lugano’s Director of Economic Promotion Pietro Poretti while former Guatemala’s congressperson and potential presidential candidate Zury Rios also delivered her speech via video link.

In March this year, the city of Lugano and Tether, the issuer of USDT stablecoin, formed Lugano’s Plan ₿ as a joint initiative to make the city a European leader in the use of decentralized digital currencies.

Paolo Ardoino, Chief Technology Officer of stablecoin issuer Tether, also appeared on the panel of Plan B Forum on Friday where he said Bitcoin adoption in the city is “working well,” with 40 merchants are already using the cryptocurrency with their point-of-sale systems.

Lugano, the 9th biggest city in Switzerland, wants to become Europe’s Bitcoin city. While Tether is already there helping her, El Salvador, which became the first country to adopt bitcoin as legal tender, has joined hands.

In March, Tether’s Paolo Ardoino and Michele Foletti, the Mayor of the city of Lugano, unveiled the plan to transform Lugano into the European Bitcoin capital.

Image source: Shutterstock

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KPMG Canada Adds BTC And ETH To Balance Sheet

by CryptoPotato

The Canadian subsidiary of KPMG – one of the “Big Four” international accounting firms – has just confirmed the addition of Bitcoin and Ethereum to its corporate treasury. The purchase is said to “reflect the firm’s commitment to emerging technologies and asset classes”.

  • According to a press release from Newswire, KPMG included carbon offsets alongside the purchase, in order to maintain net-zero emissions on the relevant purchases. Bitcoin and Ethereum are often criticized for their energy footprint due to their Proof-of-Work consensus mechanism but are rapidly becoming less carbon-intensive networks.

  • The crypto assets were acquired through Gemini’s execution and custody services – a Winklevoss-owned cryptocurrency exchange.

  • This marks the company’s first-ever cryptocurrency allocations. However, it’s been involved with the industry in other ways for years, such as providing tools to help institutional clients provide crypto-asset services.

  • KPMG was also responsible for a 2019 study showing massive interest in cryptocurrency from Gen Z.

  • Benjie Thomas – Canadian Managing Partner at KPMG – called crypto a “maturing asset class,” and believes it will be widely recognized like any other traditional asset in the future.


  • “Investors such as hedge funds and family offices to large insurers and pension funds are increasingly gaining exposure to crypto-assets,” he added, “and traditional financial services such as banks, financial advisors, and brokerages are exploring offering products and services involving crypto-assets.”

  • Tesla and MicroStrategy are premier examples, having added billions of dollars in Bitcoin to their corporate treasuries. El Salvador is the first known nation-state to take similar action and continues to do so.

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‘The Demon’ Gene Simmons Accepts Bitcoin for The Sale of His Las Vegas Estate

by CryptoPotato

The legendary bassist/vocalist of the rock band KISS – Gene Simmons – disclosed that apart from fiat currency, buyers can also purchase his $13.5 million home in Las Vegas in digital assets. Those accepted are Bitcoin (BTC), Ether (ETH), Polkadot (DOT), Litecoin (LTC), and more.

An’ Outspoken Proponent’ of Crypto

The rock star, known among fans as “The Demon,” initially displayed his support towards the cryptocurrency industry at the beginning of 2021. Back then, he predicted that Cardano would experience its “most productive year.” At the end of the summer, the native token of the protocol spiked to an all-time high of over $3, meaning that Simmons’ forecast was quite accurate.

In August, the musician admitted that he is also keen on bitcoin. He revealed investing “a few million” in it and envisioned that the primary cryptocurrency would soon reach $60,000. BTC even surpassed the price tag, which Simmons predicted, as it tapped an all-time high of nearly $70K.

In a recent interview, “The Demon” doubled down on its crypto support by accepting several digital assets for the sale of his exclusive Las Vegas mansion. It is currently listed at $13.5 million, while buyers can purchase it in Bitcoin (BTC), Ether (ETH), Polkadot (DOT), Litecoin (LTC), Uniswap (UNI), Aave (AAVE), or even a combination of the assets.

“I have been an outspoken proponent of cryptocurrency from the beginning. It is the future of money, and it just makes sense to offer interested parties the option of using cryptocurrency to purchase the estate,” Simmons stated.

The estate is located in the prestigious Ascaya community in Henderson, just south of the Las Vegas Strip. It offers a panoramic view of the valley and expands to more than 11,000 square feet.

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The future owner of the mansion will enjoy six bedrooms, eight baths, and 11 attached garage spaces. There is also a swimming pool, a private bar, lounge area, tennis pavilion, and many more leisure facilities.

LasVegas estate
Simmons’ estate in Las Vegas, Source: Review Journal

The Record Purchase

Gene Simmons is hardly the first person to transact with cryptocurrencies in real estate deals.

Last summer, a mysterious buyer paid $22.5 million worth of digital assets to acquire a deluxe penthouse in Miami Beach. The deal represented the most expensive transaction ever to be paid this way. However, the name of the buyer and the employed cryptocurrency remained undisclosed.

The condominium is part of the building Arte Surfside. Interestingly, the penthouse on the top floor is owned by Ivanka Trump – the daughter of America’s former president Donald Trump.

Alex Sapir – Co-Developer of the building – asserted that deals involving cryptocurrencies are highly secure. He added that an increasing number of people want to purchase condos from Arte Surfside using bitcoin or the altcoins:

“There is strong pent-up demand for cryptocurrency transactions that are seamless and secure for both parties, and the deal at Arte is a prime example of that. We were overwhelmed by the amount of calls we received from qualified buyers.”

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UNIFY to Become the First Credit Union Allowing Members to Hold Bitcoin

by CryptoPotato

By partnering with the bitcoin-centered company New York Digital Investment Group (NYDIG), UNIFY will become the first credit union to offer BTC services to its members. The collaboration was also joined by pro football player Safety John Johnson III.

  • The announcement from earlier this week informed that UNIFY customers will now be able to buy, sell, and hodl bitcoin alongside their traditional accounts within the online banking platforms.

  • The organization has more than 260,000 members across the US, with branches in California, Nevada, Arizona, and Texas, handling over $3 billion in assets.

  • By becoming the first credit union to adopt bitcoin for its clients, UNIFY wants to “stay on the leading edge of financial services as technology, and consumer interests continue to evolve,” said the organization’s President and CEO – Gordon Howe.


  • “As digital currencies enter the mainstream, we’re excited to provide members a convenient, secure, and immediate way to access cryptocurrency alongside their traditional account services as part of our core digital offering.” – he added.

  • Upon purchasing $500 worth of BTC through UNIFY’s platform by February 14th, all members will have the chance to win a limited NFT collection created by Safety John Johnson III called “JJ3.”

  • Additionally, winners will be able to have a one-on-one Zoom call with the pro football player.

  • NYDIG has made numerous partnerships with large traditional financial organizations to enhance bitcoin’s adoption. One of the most recent examples came last week when the company collaborated with Five Star Bank to offer customers access to BTC.

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Bitcoin Price Rises As El Salvador Rejects IMF Call To Ditch BTC

by NEWSBTC

Bitcoin started rising with the news El Salvador rejected the IMF request to drain BTC as a currency. In response, Bitcoin grew to a 14-day high price level, adding more than a quarter trillion US dollars into the crypto market.

Price tendency follows the pathetic month for cryptocurrency since March 2020. At that time, Bitcoin reached a price level of $5,000 due to panic selling off after the Covid-19 pandemic threat. After that, Bitcoin raised and achieved its all-time high price level of $69,000 in November 2021. 

But soon after that, Bitcoin started a downward journey, coming to the seven-month low of $33,000 on January 24, 2022. However, on the same day, Bitcoin began an upward trend and gradually achieved a price level of $39,000 on Tuesday, February 01, 2022, showing positive crypto market growth.

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Bitcoin Price
Bitcoin price met the $39K level today. Source: Tradingview.com 

Bitcoin price retrieval started after El Salvador declined IMF request to withdraw Bitcoin as a medium of exchange. El Salvador is the first country to do so in the world after many months.  

El Salvador Reaction After IMF Call To Ditch Bitcoin

The decision to adopt Bitcoin as an official currency was met with fierce resistance from many governments, but it looks like El Salvador is taking a different approach. Treasury Minister Alejandro Zelaya says that his country sees cryptocurrencies not just for financial transactions and investments but also embracing this new technological advancement.

In a local TV interview, he added by referring to AP report;

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“Countries are sovereign nations, and they take sovereign decisions about public policy. No international organization is going to make us do anything, anything at all.”

IMF reported many risks involved regarding consumer protection, financial stability, and financial integrity as reasons for not adopting Bitcoin. In addition, IMF added there is high crypto price fluctuation, and criminals can misuse it for their illegal activities. 

IMF had already warned El Salvador that its involvement in Crypto could cause hindrance from getting borrowing from international institutions.

Marcus Sotiriou, a British digital currency analyst at GlobalBlock, said;

“It seems that El Salvador may not need the coercive loans from the IMF any longer by issuing the innovative the Bitcoin Bond. This bond allows them to raise funds to set up mining infrastructure.”

A continuous worldwide crypto acceptance and day by rumors that Latin American countries are accepting Bitcoin as an official exchange source are significant concerns of IMF. 

The president of El Salvador, Nayib Bukele, shared a meme from The Simpsons on Twitter. Its caption read “I see you IMF,” and he responded with laughter at its parody nature in his own words.   

                   Featured image from Flickr, chart from TradingView.com

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Another American Bank Partners with NYDIG to Offer Bitcoin to Customers

by CryptoPotato

Customers of U.S. financial service provider Five Star Bank will soon be able to securely buy and invest in bitcoin (BTC) directly from their bank accounts thanks to a partnership with NYDIG.

Five Star Bank to Offer Bitcoin Trading Services

New York Digital Investment Group (NYDIG) has struck a partnership with American-based Five Star Bank to onboard bitcoin trading and virtual currency transaction facilities for the latter’s customers before the end of Q2 2022.

According to the announcement, Five Star Bank plans to integrate the full-stack BTC platform developed by NYDIG into its online banking service and mobile banking app. This will allow the bank’s account holders to manage their digital transactions via a regulated channel and negate crypto adoption concerns relating to decentralized wallets and key management.

The partnership will provide customers with an industry-standard and regulatory compliant service they can leverage to monitor traditional fiat assets and BTC investments, said both firms.

Commenting on the announcement, Five Star Bank Chief Operating Officer Martin K. Birmingham expressed intentions to bridge the gap between existing fiat-backed assets and bitcoin by providing customers with a secure digital solution. Birmingham added:

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“Thanks to NYDIG, we are creating a safe, efficient, and more user-friendly way for our customers to manage their digital transactions. Customer experience continues to be at the forefront of our focus at Five Star Bank, and we’re proud to bring forth a cryptocurrency investment solution that will broaden access to this emerging portfolio option for consumers within our geographic footprint and, frankly, across the country.”

Sean Willett, the bank’s Chief Administrative Officer, added that the exponential growth occurring across the digital asset industry played a major role in striking the partnership with NYDIG. Willet also emphasized the importance of supporting an increased investment appetite for cryptocurrency.

NYDIG’S BTC Banking Mission

First Star Bank now joins a growing list of American financial service providers to integrate NYDIG’s features. Back in 2021, the bitcoin company partnered with California-based First Foundation Bank and internet banking firm Q2, to name a few.

Indeed, the latest development aligns with NYDIG’s ambitions to provide U.S. citizens access to bitcoin. CryptoPotato previously reported that the firm partnered with U.S. insurance heavyweight MassMutual. The agreement was geared towards exposing qualified investors to a bitcoin fund.

Back in June 2021, National Cash Register (NCR) announced its collaboration with NYDIG to allow 650 credit unions and U.S. banks to offer crypto trading services through mobile apps.

The bitcoin company also partnered with restaurant and hospitality giant Landry to launch a BTC loyalty reward program across the latter’s 500 locations.

Featured Image Courtesy of Five Star Bank

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