On the 7th (local time), the Detroit Treasury
The City of Toronto Office (City of Toronto) will allow residents to pay taxes and other city fees with cryptocurrencies.
"This is part of a broader effort to modernize and improve payments channels and is a strategy to attract blockchain companies," the company said in a statement.
According to the statement, the new cryptocurrency payment options will be available through a secure payments platform managed by PayPal from mid-2025.
The announcement did not specify what cryptocurrencies Detroit will accept as payments, but PayPal currently accepts Bitcoin.
, Ethereum, Bitcoin Cash, Litecoin, and its own stablecoin, PayPal
Detroit said accepting cryptocurrencies was a step toward modernizing payment channels and streamlining its internal operations, as well as part of a broader push to attract blockchain companies.
"Detroit is building a tech-friendly environment that supports our residents and entrepreneurs," Detroit Mayor Mike Duggan said in a statement.
"We are proud to be one of the major U.S. cities exploring the use of blockchain in the public sector and enabling our residents to use cryptocurrencies as a form of payment," they said in a statement.
2024/11/08 15:47 KST
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