TechFlow news, according to Crypto.news, the city of Lugano in Switzerland has announced the launch of LUGA, a stablecoin pegged to Bitcoin, which can be used for payments at more than 350 merchants across the city. Approximately 20% of Lugano's population now holds an active Lugano wallet. Starting December 1, the municipal government will also begin accepting Bitcoin for tax payments.
In addition, Lugano has announced $50 million in funding for startups in the cryptocurrency and blockchain sectors, with a focus on areas including the Bitcoin core development pool, Lightning Network development pool, and public initiatives.
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