El Salvador and Lugano City have signed an agreement on economic cooperation

The Salvadoran ambassador to the United States, Milena Mayorga, recently announced that El Salvador and the city of Lugano, in Switzerland, have signed a Memorandum of Understanding on Economic Cooperation, framed around the adoption of bitcoin and other cryptocurrencies.

The signing of the agreement, which includes the improvement of cooperation in education and research and the support of initiatives for the adoption of crypto assets, was announced on the first day of the «Plan B» forum, organized by the crypto company Tether in the city. European.

«I am very pleased to have been able to announce this historic partnership between the innovative city of Lugano and El Salvador. We share a love for innovation and bold ideas, and this initiative will be a game changer in the exchange of ideas and best practices in economic freedom,» said Mayorga.

The diplomat also explained that the alliance between El Salvador and Lugano seeks to promote the exchange of students and talents.

«My compatriots and I are very excited about the promise of bitcoin, and I look forward to seeing how this initiative will help increase access to economic security and economic freedom for all, one of the main objectives of the government of President Nayib Bukele,» she added.

For his part, the mayor of Lugano, Michele Foletti, who signed the memorandum with the Salvadoran ambassador in Geneva, Joaquín Maza, indicated that this joint effort will benefit both the Swiss city and the Central American country, since it will allow the development of a more inclusive.

«Lugano is a land of innovation and opportunity, and today’s historic announcement of our partnership with the great country of El Salvador is great news for believers in financial freedom and the power of cryptocurrencies,» Foletti said.

Lugano is a crypto city.

Tether and the city of Lugano announced the «Plan B» initiative in March this year. The goal of the project is to make the Swiss city a center of excellence for blockchain adoption in Europe.

Taking El Salvador as an example, to date they have included bitcoin, USDt, and LGVA, the local stable currency, in their economy.