Swiss city of Lugano embraces future of multiple digital currencies

The Swiss city of Lugano is open to a future where Bitcoin, stablecoins and central bank digital currencies (CBDCs) coexist, according to Paolo Bortolin, Deputy CFO of Lugano. Bortolin believes that these digital currencies can serve a variety of purposes for users. While wholesale CBDCs are expected to launch soon, the future of retail CBDCs is uncertain due to concerns such as privacy. Stablecoins issued by private companies are likely to become an important element of the digital financial ecosystem, potentially vying for dominance. Lugano recently expanded support for cryptocurrency payments, accepting Bitcoin and USDT with taxes and fees.