Switzerland, renowned for its banking secrecy laws and favored by the wealthy, has quickly embraced the principles of self-sovereignty embodied by Bitcoin (BTC).
The head of Lugano’s Plan ₿ initiative, Giw Zanganeh, spoke with Cointelegraph journalist Joe Hall at the Plan ₿ Bitcoin Summer School, shedding light on the growing use of Bitcoin for everyday transactions in the Swiss city.
Lugano has emerged as a hub for Bitcoin adoption, as well as for Tether and its LVGA stablecoin, which can be used for various utility bills, goods, and services throughout the city.
Zanganeh, who leads Tether’s Plan ₿, expressed his enthusiasm for Switzerland’s remarkable cryptocurrency adoption, despite its well-established financial and banking infrastructure.
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He noted that many Swiss citizens are not only interested in Bitcoin from a philosophical perspective but also find alignment with Swiss values.
Swiss society places high value on individual sovereignty and financial privacy, which creates a natural overlap between Swiss culture and the ideals of the Bitcoin movement.
Zanganeh stated that Switzerland likely has one of the highest densities of Bitcoin-only companies per capita in the world, and even politicians, diplomats, and members of parliament are embracing Bitcoin, reinforcing a positive outlook for adoption in the country.
The increased usage of Bitcoin in Switzerland can be attributed to concerted efforts to educate and inform the populace about the advantages of BTC.
Regular articles in newspapers discuss various aspects of Bitcoin and its relevance to financial freedom and freedom of speech, targeting individuals interested in these concepts.
Zanganeh acknowledged that Bitcoin adoption is a gradual process, but the onboarding of merchants in Lugano has played a crucial role in establishing a new payment paradigm in the region.
Zanganeh likened the process of Bitcoin adoption to the initial proliferation of bank cards decades ago, emphasizing that practical experience with novel transactional methods will continue to attract more users to the Bitcoin ecosystem.
Switzerland’s potential as a center for institutional cryptocurrency adoption has also been highlighted by Bitcoin Suisse CEO Dr. Dirk Klee, with the Canton of Zug attracting numerous cryptocurrency and blockchain companies due to its progressive and crypto-friendly initiatives supported by the government.
The interview with Giw Zanganeh is part of an upcoming Cointelegraph documentary that delves into the experience of attending a Bitcoin School.
For those interested, subscribing to Cointelegraph’s YouTube channel will provide access to the documentary.
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