Tether Partners with Lugano’s 3Achain to Promote Blockchain Growth

One sentence summary – Tether has partnered with Lugano’s 3Achain to promote blockchain technology in the city and develop a stablecoin called LVGA, pegged to the Swiss Franc, to be used for local transactions, as part of Lugano’s efforts to accelerate blockchain adoption and integrate cryptocurrencies into the local economy.

At a glance

  • Tether has partnered with Lugano’s 3Achain to promote blockchain technology in the city.
  • The partnership focuses on developing Lugano’s stablecoin, LVGA, pegged to the Swiss Franc.
  • Tether will operate a validation node for the LVGA token blockchain.
  • Lugano has made progress in adopting digital currencies, with over 350 local businesses accepting Bitcoin and USDT.
  • Lugano’s digital future sets an example for blockchain adoption and integrating cryptocurrencies into local economies.

The details

Tether, a leading cryptocurrency company, has recently announced a partnership with Lugano’s 3Achain.

The collaboration is aimed at promoting the growth of blockchain technology in the city of Lugano.

The partnership will focus on the development of Lugano’s proprietary stablecoin, LVGA.

LVGA will be pegged to the Swiss Franc and is designed to serve as a local transactional instrument within Lugano.

The technology behind LVGA is the 3Achain blockchain.

3Achain has been recognized by the Swiss Financial Market Supervisory Authority (FINMA) as a payment token.

As part of the partnership, Tether will operate a validation node for the LVGA token blockchain.

This move is in line with Lugano’s “Plan B” program, which aims to accelerate blockchain adoption in the region.

Lugano has already made significant progress in adopting digital currencies.

More than 350 local businesses in the city now accept Bitcoin and USDT (Tether’s stablecoin) for everyday purchases.

Lugano recently issued a digital bond backed by blockchain technology.

This move was acknowledged by the Swiss National Bank.

The central bank’s recognition allows assets built on blockchain to be used as collateral for SNB repos.

Paolo Ardoino, Tether’s Chief Technology Officer, expressed satisfaction with the progress made through this partnership.

Ardoino invited other communities to learn from Lugano’s administration.

The partnership between Lugano and Tether represents the synergy between traditional financial systems and the cryptocurrency landscape.

This collaboration highlights the potential for cooperation between traditional finance and cryptocurrency.

Lugano’s digital future appears promising, setting an example for other regions in terms of blockchain adoption and the integration of cryptocurrencies into local economies.

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blockzeit.com
– Tether has partnered with Lugano’s 3Achain to strengthen the city’s blockchain growth.
The partnership aims to embrace cryptocurrencies and foster a robust blockchain infrastructure.
The collaboration involves the development of Lugano’s proprietary stablecoin, LVGA, pegged to the Swiss Franc.
– LVGA serves as a local transactional instrument confined to Lugano’s boundaries.
The 3Achain blockchain technology is at the core of LVGA and gained recognition from FINMA as a payment token.
– Tether will operate a validation node for the LVGA token blockchain.
The partnership aligns with Lugano’s “Plan B” program to propel blockchain adoption.
– Over 350 local businesses in Lugano now embrace Bitcoin and USDT for everyday purchases.
– Lugano issued a pioneering digital bond underpinned by blockchain technology.
The Swiss National Bank acknowledged Lugano’s achievement, allowing digitally native assets as collateral for SNB repos.
– Paolo Ardoino, Tether’s CTO, expresses contentment with the progress achieved and invites other communities to learn from Lugano’s administration.
The partnership between Lugano and Tether symbolizes the synergy between traditional financial systems and the cryptocurrency landscape.
– Lugano’s digital future shines brightly, setting an example for other regions to follow.

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