The Swiss city of Lugano is allowing its residents and visitors to use cryptocurrency for everyday transactions — including their tax payments.
People normally prioritize convenience in their financial transactions over efficiency. That’s why not everyone uses cryptocurrency — even when it offers more options and lower costs.
The Swiss city of Lugano provides the best evidence of what’s possible: More than 15% of its citizens use the city’s LVGA stablecoin to pay their bills, make purchases at shops and restaurants, and access online services on a daily basis.
Digital assets can offer improvements that are unmatched in the field of traditional finance, and they can be highly accessible. In developing countries, financial services still remain a privilege for a small group of people. Though just 6% of adults don’t have a bank account in the United States, that number exceeds 52% in Africa.
