30s Summary
Detroit will accept cryptocurrency payments for city taxes and fees via PayPal from mid-2025, becoming the largest US city to do so. The city is also inviting innovative blockchain ideas from crypto entrepreneurs to boost transparency, data security, and public service efficiency. The crypto initiative forms part of a wider strategy to attract tech and blockchain firms to the city and stimulate economic growth.
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Folks in Detroit will soon have the option to pay their city taxes and fees using crypto through PayPal, according to an announcement from Detroit’s Treasury Office. This new payment method will go live around mid-2025. While it’s not clear which cryptos will be accepted, PayPal currently supports bitcoin, ether, bitcoin cash, litecoin, and PayPal’s own stablecoin, PayPal USD.
Once this plan is in place, Detroit will be the largest city in the U.S. to accept crypto payments. Other cities that accept crypto for certain payments include Miami Lakes, Florida, and Williston, South Dakota. Colorado, Utah, and Louisiana are states that also accept crypto, usually through third-party payment processors like PayPal or BitPay that convert the crypto into U.S. dollars.
Detroit’s decision to accept crypto is part of a broader initiative to adopt new technologies to stimulate economic growth and attract blockchain and tech companies to the city. “Detroit is fostering a tech-friendly environment that benefits both residents and businesses,” said Mayor Mike Duggan. “We are eager to be leading the way in using blockchain’s civic applications and offering residents the choice to pay with their cryptocurrency.”
Along with announcing the crypto payment option, Detroit is also asking crypto entrepreneurs to offer their ideas for uses of the blockchain that can enhance transparency, improve data security, and make public services more efficient. The city’s first Director of Entrepreneurship and Economic Opportunity, Justin Onwenu, is at the helm of this endeavor.
“This announcement signals our willingness to embrace new ideas and our commitment to making Detroit a hub for entrepreneurs and innovative concepts,” said Onwenu. “We believe blockchain technologies could significantly increase accessibility, efficiency, transparency, and security, and we’re excited to collaborate with those spearheading these initiatives.”