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Swapix Launches Pix Loot Function to Convert Tether to Brazilian Real
SmartPay came up with the Swapix solution for sending and converting between Tether and Brazilian Real using Pix and is now launching the tool in withdrawal mode. The option is available on the USDT.com.vc website or the Bitfinex payment app FastPay, and will be available at lottery shops and other establishments that accept PiX Cash.
In this mode, the tool allows withdrawals of up to BRL 3,000 during the day and BRL 1,000 at night. However, the service is currently only available until 6pm. SmartPay CEO Rocelo Lopes said its goal is to democratize the use of cryptocurrencies more and more, making life easier for first-time buyers, foreigners and institutions.
Since launching Swapix in 2021, SmartPay has expanded its scope. For example, in late 2002, under an agreement with TecBan, it began allowing withdrawals of the Brazilian real via the Tether stablecoin at more than 24,000 Banco 24 Horas ATMs.
According to the central bank, Pix will transfer 10.9 trillion reais in 2022 alone. This amount is more than double that in 2021, when 5.2 trillion reais were traded this way. In December last year alone, it reached 1.221 trillion reais, setting a single-month record.
Last August alone, Brazilians moved more than $1.4 billion in tether in 79,836 transactions, according to Lopes. The average ticket price is $18,000, placing the country among the top five Tether-using markets in the world.
SmartPay's CEO claimed that BCB Resolution 293, which created new BC rules for Pix, has no impact on the company's services and that he is preparing the rules for the company. “We are finalizing the final details to provide an unprecedented service. Initially it was only available on Bitfinex, but now it is available to everyone with a Tether address (USD₮) on the Tron or Polygon blockchain. Currently, we can say Interestingly, we have created a Tether address in the Pix Banking Chain.”
He explained that some brokerages will have to adjust their know-your-customer (KYC) processes to meet this standard. "However, sending resources will be more akin to sending cryptocurrency, as the user will be doing so for his Pix key within the intermediary, just as he would do when sending crypto to his address inside the brokerage ’, he explained.
https://www.blocknews.com.br/criptoativos/swapix-tera-funcao-de-pix-saque-para-conversao-de-tether-para-reais/
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Tether and the Swiss city of Lugano celebrate the first anniversary of the Plan ₿ Forum innovation initiative and announce the official launch of the Plan ₿ Business Center
Lugano plans to use Bitcoin technology as the basis for revamping the city's financial infrastructure, bringing crypto to 150 businesses across the city.
Today, Tether and the city of Lugano celebrate the first anniversary of Plan ₿, an initiative to accelerate the use and utilization of Bitcoin technology as a basis for transforming the city's financial infrastructure.
On March 3, 2022, Plan ₿ was officially launched with the goal of expanding Lugano's blockchain capabilities and promoting the city as a major hub for blockchain adoption in Europe. When they launched the initiative, they announced that Bitcoin, Tether and the city's own LVGA token would be used to pay for taxes, parking tickets, public services and school fees. Participants, including a consortium of companies, also announced a CHF 100 million fund to support crypto startups and a CHF 3 million fund to assist Lugano shops and businesses with crypto adoption .
A year later, more than 150 Lugano shops and businesses, including McDonald's, now accept Bitcoin, Tether and LVGA as payment methods for their goods and services in addition to fiat currencies.
To mark the success of the first year, Tether and the city of Lugano also announced the launch of the Plan ₿ Business Center to explore the potential of blockchain technology for business, adoption and long-term use of cryptocurrencies. The regional center will house more than 300 blockchain experts and enthusiasts. As a global reference point for Lugano, it aims to attract talent, encourage networking and knowledge sharing. The center will also host casual spaces for gatherings and workshops to further promote education and development.
“The goal of this partnership is to make Lugano a center of excellence for blockchain technology. In the first 12 months we have seen increasing interest and Lugano is now definitely coming along with some other destinations On the world map," said Mayor of Lugano Michele Foletti "The strength of the Lugano Plan ₿ is its ability to demonstrate the real-world potential of blockchain technology by actually applying it to the local community of Lugano. Applications. Businesses of all sizes are already using blockchain platforms to improve their processes and we are seeing Lugano become a model for global adoption of cryptocurrencies.”
Lugano hosts many educational, networking and outreach events, attracting people from all over the world to learn about and discuss the opportunities presented by blockchain technology and cryptocurrency adoption. Last year alone, 86 students from 29 countries came to the city for the first-ever Plan ₿ Summer School, an intensive 2-week course taught by world-class experts in content Business, regulatory and technical implications involving blockchain and bitcoin. A stipend for 500 students was also announced and will be offered to those wishing to further their knowledge of blockchain technology during the summer school programme. Tether and the city of Lugano are working together to provide additional bursaries for university students in the coming months.
In the 365 days since the launch of Plan ₿, Tether and the city of Lugano have launched many initiatives with considerable success. The first Plan ₿ Forum was held in Lugano and attracted more than 1,500 participants. During the forum, more than 1,000 transactions, nearly 130 USD₮ transactions, and 200 LVGA transactions were completed through the Bitcoin Lightning Network. On a larger scale, Lugano issued the first-ever local digital bond based on blockchain technology worth CHF 100 million on the SIX Digital Exchange (SDX). It also signed a framework agreement with the Università della Svizzera Italiana (USI), the Southern Swiss University of Applied Sciences and Arts (SUPSI) and the Franklin University of Switzerland (FUS) to coordinate current and future blockchain-related activities.
Included on the 2023 agenda is the recently announced Plan ₿ Forum 2023 in Lugano, October 20-21, 2023, the second annual Bitcoin Forum focusing on cryptocurrencies and blockchain adoption. Tether will also continue its Plan ₿ Summer School program with two sessions in Spring and Summer 2023. For ticket details for the 2nd Plan ₿ Forum in October 2023 and other future Plan ₿ events, visit planb.lugano.ch/planb-forum.
https://tether.to/en/tether-city-of-lugano-celebrate-one-year-of-innovation-with-plan-b-initiative-announce-the-official-launch-of-the-plan-b-business-hub/
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More FUD against Tether from the Wall Street Journal
The Wall Street Journal's coverage of Tether a long time ago was completely inaccurate and misleading. Bitfinex and Tether have world-class compliance programs and adhere to applicable anti-money laundering, user verification systems and anti-terrorist financing legal requirements.
These unfair attacks will not distract us from continuing to work hard and provide the most liquid and reliable stablecoin experience, the market has clearly recognized this and witnessed us becoming the industry leader.
https://tether.to/en/more-tether-fud-from-twsj/
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Tether and Binance Swap 400 Million USDT
