On Friday, the Swiss city of Lugano and the country of El Salvador signed an economic cooperation agreement aimed at driving the adoption of Bitcoin in their own regions and neighboring states and nations.

The two crypto-friendly jurisdictions signed a memorandum of understanding (MOU) on economic cooperation at the Plan B event in the city of Lugano on Oct. 28.

Speaking at the Lugano Plan B Forum on Friday, Lugano Mayor Michele Foletti said that El Salvador’s adoption of Bitcoin as legal tender is part of the city’s interest in the deal. The mayor of Lugano said that the partnership will allow the city and the pro-crypto country (Switzerland) to develop a physical government presence in attempts to develop cooperation with educational and research institutions.

Milena Mayorga, El Salvador’s ambassador to the US, also appeared on stage, saying that her country plans to open a “Bitcoin office” in Lugano with a new Honorary Consul to promote Bitcoin adoption in the city, Italy. and Europe. She said: “With this agreement, El Salvador is now much closer to Europe.”

Meanwhile, former Blockstream chief strategy officer Samson Mow also spoke at the event, saying the deal is the “next step” in nation-states and cities embracing Bitcoin. He described the collaboration between El Salvador and Lugano as the way in which alliances were created between places that have adopted Bitcoin.

Other personalities who later joined the stage included Mexican politician Indira Kempis, Prince Filip Karađorđević of Serbia and Lugano’s Director of Economic Promotion Pietro Poretti, while former Guatemalan congresswoman and potential presidential candidate Zury Rios also delivered her speech. through a video link.

In March this year, the city of Lugano and Tether, the issuer of the USDT stablecoin, formed the Lugano ₿ Plan as a joint initiative to make the city a European leader in the use of decentralized digital currencies.

Paolo Ardoino, chief technology officer of stablecoin issuer Tether, also showed up at the Plan B Forum panel on Friday, where he said that the city’s Bitcoin adoption is “working well,” with 40 merchants already using the cryptocurrency with their point-of-sale systems.

Lugano, the ninth largest city in Switzerland, wants to become the Bitcoin city of Europe. While Tether is already there helping her, El Salvador, which became the first country to adopt bitcoin as legal tender, has joined.

In March, Tether’s Paolo Ardoino and Michele Foletti, mayor of the city of Lugano, revealed the plan to transform Lugano into the European capital of Bitcoin.

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