Reading Time: 2 minutesThe crypto-friendly Swiss city of Lugano has tapped Polygon to power its payment app
Dubbed MyLugano, the app offers self-custody of several tokens
The app also intends to tokenize a physical artwork and offer it as NFTs

The crypto-friendly Swiss city of Lugano is powering its payment app, MyLugano, with blockchain technology with the help of Ethereum scaling layer Polygon. According to Polygon, the app’s use of the scaling layer allows it to explore a myriad of Dapps on the platform and aid the city’s mission of becoming “Europe’s blockchain capital.” The city of Lugano’s move comes six months after the EU embraced blockchain technology for credential verification, a sign that Europe is warming up to blockchain-powered products.

Crypto to Pay Taxes and Tuition Fees

In a statement, Polygon said that the app is looking to help the city’s inhabitants use leading cryptocurrencies like Bitcoin (BTC) and the city’s own token LVGA to pay “ taxes, parking tickets […], tuition fees” among other services.

Polygon disclosed that it’ll provide the infrastructure needed to power “some of the transactions,” adding that MyLugano’s move offers a way for crypto to become legal tender in the city.

The statement also disclosed that the payment app will use the Polygon protocol to power NFTs of “a 40-meter long, 8-meter high” physical artwork created by hundreds of artists.

The NFTs will be distributed to all the artists and also help preserve the physical artwork since it’s “designed to gradually disappear.”

Polygon 2.0 Starts Taking Shape

MyLugano’s involvement with Polygon is a natural relationship since the Ethereum layer two powers LVGA, the city’s stablecoin. The partnership, however, marks a milestone for Polygon as it strives to become the Ethereum scaling layer of choice.

Polygon is in the process of overhauling its systems to usher in Polygon 2.0 which it taunts as the value layer of the internet. Polygon 2.0 has started taking shape with the activation of POL, a token meant to replace the platform’s native token MATIC.

With Polygon powering the MyLugano app, it’s to be seen whether it’ll increase the protocol’s viability among cities or countries looking to launch blockchain-based products.

The post Lugano Taps Polygon for Payment App appeared first on FullyCrypto.

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Filed under: Bitcoin - @ November 25, 2023 9:00 am