Cannes Targets 90% Crypto Adoption Among Local Shops by Summer 2025, Says Web3 Executive
By: coinfea|2025/05/03 09:45:01
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Cannes is preparing for a major leap in digital payments as 90% of its shops are expected to accept cryptocurrency by summer 2025.The announcement came from Artem Shaginyan, founder and head of strategy at Lunu Pay, a Web3 payment firm working with the city’s municipal government.Shaginyan emphasized that the adoption of crypto in a city like Cannes signals that Web3 payments are moving beyond online platforms. He described the move as a shift toward integrating crypto into everyday retail transactions and tourism.Cannes mayor urges Crypto integration among merchantsMayor David Lisnard has been at the forefront of the city’s transition into a crypto-friendly destination. In February, he organized a training session aimed at educating local merchants on how to incorporate digital payments. The initiative is part of a broader strategy to modernize the city’s payment systems in preparation for the Ethereum Community Conference (EthCC) scheduled for summer 2025.Cannes attracts over 3 million tourists annually and is aiming to become a global crypto tourism hub. Shop owners are optimistic that crypto adoption will attract high-net-worth visitors and digital finance enthusiasts. The mayor has promoted the initiative as a practical modernization move rather than a political statement.Global cities follow cannes in Crypto adoptionCannes is not alone in its crypto journey. Other cities have also taken steps toward adopting digital assets for payments and municipal services. Lugano in Switzerland began accepting Bitcoin and stablecoins for taxes and services in December 2023. Similarly, Colorado allowed crypto tax payments in 2022 under Governor Jared Polis.Vancouver joined the list in December 2024 by approving a motion to explore the use of Bitcoin in its financial framework. The city is considering adding a Bitcoin treasury strategy to strengthen its fiscal management.Panama city launches Crypto payment systemOn April 15, Panama City began accepting Bitcoin, Ether, USDC, and USDT for taxes, permits, and even bus fares. Mayor Mayer Mizrachi stated that previous attempts at crypto integration had failed due to legal barriers. His administration bypassed these by partnering with a bank that converts digital assets into US dollars instantly.Mizrachi agrees that adopting cryptocurrency standards would help defend public budget reserves against inflation while attracting more investments to the region. Through this initiative the city works to establish itself as a leading modern financial center according to Mizrachi.The post Cannes Targets 90% Crypto Adoption Among Local Shops by Summer 2025, Says Web3 Executive first appeared on Coinfea.
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