Liechtenstein started accepting cryptocurrency to pay for part of the government services
Liechtenstein entered into a partnership with the Web3-platform xMoney. Under it, the government will accept some cryptocurrencies, such as BTC and ETH, to pay for part of the public services.
Citizens of the country will be able to pay with cryptocurrency for such services as obtaining licenses for commercial activities, registering trademarks, obtaining extracts from the trade register and the register of family property. The platform also announced a cashback program for users of the service, as well as owners of UTK, the platform’s own token.
“Now the citizens of Liechtenstein will be able to see the ease, security and high speed of making payments with government bodies using cryptocurrencies,” — writes xMoney.
This is not xMoney’s first project with the authorities, the platform already has a similar agreement with the administration of the Swiss city of Lugano: from December 2023, local residents can pay bills in digital currency. The local government also announced the launch of a school program to teach cryptocurrencies.
On the news of Liechtenstein’s cooperation with xMoney, the UTK token rose by more than 10%, before falling again slightly, and at the time of publication it is trading at $0.083 (according to CoinMarketCap).