Polygon Integration: Lugano’s Crypto-Payment Evolution

The integration of Polygon into the crypto-payment system of Lugano marks a significant step in the city’s embrace of digital currencies. Lugano, known as the financial hub of Italian-speaking southern Switzerland, is set to incorporate Polygon’s proof-of-stake (PoS) protocol into its MyLugano app, heralding a new era of digital transactions.

Announced on Polygon Labs’ website on Nov. 22, the updated MyLugano app will feature a multichain digital wallet for personal custody, with plans to integrate various tokens. This move expands upon Polygon’s existing partnership with Lugano since 2022, where the network provider facilitated the city’s stablecoin, LVGA, through its infrastructure.

Moreover, the upgraded app is unveiling a unique NFT collection celebrating artist Yuri Catania’s monumental artwork at the Palazzo dei Congressi. This 40-meter-long creation will be tokenized on the Polygon network, offering a novel fusion of art and blockchain technology.

Lugano has been at the forefront of crypto adoption, exemplified by MyLugano’s collaboration with Tether, serving nearly half of the city’s population by facilitating digital currency payments for local businesses. The city’s visionary approach, culminating in the establishment of a Center of Excellence for Blockchain Adoption in partnership with Tether, aims to position Lugano as a major European blockchain hub.

With plans to introduce crypto tax payments for citizens and businesses, Lugano is trailblazing in crypto adoption, although it follows Zug and Zermatt in Switzerland, which have already allowed tax payments in cryptocurrency. Lugano’s ambitions extend further, aspiring to make crypto as acceptable as fiat currency for all transactions, marking a pioneering step in embracing the digital economy.