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The Swiss City of Lugano Launches the Bitcoin-Anchored Stablecoin “LUGA” and Announces $50 Million in Financial Support for Crypto and Blockchain Startups

Lugano (LUGA), a stablecoin anchored to Bitcoin, has been launched in the Swiss city of Lugano and can be used in over 350 merchants in the city. The city government also revealed that it will start accepting tax payments in Bitcoin from December 1.

In addition, Lugano city announced the allocation of $50 million in venture capital to support start-ups focused on cryptocurrency and blockchain technology, with a focus on areas such as the Bitcoin Core Development Pool, the Lightning Network Development Pool, and public projects.

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