Tether to launch CHF100m fund as Lugano cements blockchain-hub status

To realise the «Plan ₿» envisages a revolution in Lugano’s financial sector, known for its friendly stance toward blockchain technology. The city’s de facto authorities will recognise Bitcoin, Tether (USDT) and the LVGA city token as legal tender. Finews reports.

Local authorities will earmark 3 million Swiss francs (~$3.21 million) for the same purposes.

The funds will support the integration by businesses of tools related to the initiative into everyday life and local blockchain startups. The plan also envisages funding scholarships for 500 students across three universities.

Follow ForkLog news on Telegram: ForkLog Feed — full news stream, ForkLog — the most important news, infographics and opinions