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Tether CTO sees stablecoins as “perfect Trojan horse” for Bitcoin

 


Ardoino, who was ranked 88th on top 100 crypto entrepreneurs list last year , is instrumental in the rapid growth of Decentralized Financial Services (DeFi). In the interview, the industry leader now commented on a number of topics, including the introduction of Bitcoin and Tether as legal tender in the Swiss city of Lugano, the scalability of popular blockchain networks and the potential for Bitcoin adoption by nation states.


The city of Lugano, which is known as one of the most important financial centers in Switzerland, entered into a partnership with the stablecoin publisher Tether in early March to jointly launch a 3 million Swiss franc (CHF) funding program for blockchain technology and digital currencies to call life.


As part of this, Bitcoin (BTC), Tether (USDT) and the city’s own crypto token LVGA can now be used by the people of Lugano as a means of payment for taxes or certain public goods and services.


In addition, an educational program is to be set up for 100 million Swiss francs, which will promote specialist knowledge about blockchain and crypto at the three universities of Lugano and support the growth of blockchain start-ups:


“Just one month after our announcement, we formed a working group for taxes, legal issues and business consulting together with the city, which is already working with 25 to 30 different companies and startups from the industry.”

As Ardoino explains, the companies concerned have relocated to Lugano both from within Switzerland and from other countries such as India and Singapore in order to take advantage of the grants. The startups in question should serve as a kind of "model example" for other companies that want to follow a similar path in the future.


Alluding to his tweet at the time, in which the Ardoino featured the local daily newspaper with the headline "Cittá affamata di bitcoin" (English: "A city hungry for Bitcoin"), the crypto entrepreneur points out that " Stablecoins are the perfect Trojan horse for Bitcoin”, because the cryptocurrencies with stable value could significantly simplify the transition from national currencies to crypto and thus open the door for the market leader.

When asked if he is targeting further Bitcoin adoption in other European countries and cities, the Tether CTO admits that “we are looking at different regions.” Politicians are already interested, because more and more parliamentarians are contacting the two sister companies to find out more.

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