$BNB According to an executive in the Web3 sector, most shops in Cannes will accept cryptocurrencies this summer

Cannes, the French city famous for hosting the Cannes Film Festival, is a very popular tourist destination for festivals and events.

Merchants in Cannes, France, home to the Cannes International Film Festival, will begin accepting cryptocurrency payments this summer in an effort to attract high-spending clientele by modernizing the city's commercial payment ecosystem.

According to Artem Shaginyan, founder and head of strategy at the Web3 payment company Lunu Pay, the municipal government of Cannes aims for a 90% adoption rate among local merchants. The executive also told Cointelegraph:

"This is a great sign. When a city like Cannes, known worldwide for its culture and commerce, starts integrating cryptocurrencies on a large scale, it shows that Web3 payments are no longer a niche. It is about demonstrating that cryptocurrencies can work in everyday environments, not just online or in theory."

In February, the mayor of Cannes, David Lisnard, announced a training session on the integration of cryptocurrency payments for business owners and professionals, with the goal of promoting widespread acceptance of crypto payments in the city.