PANAMA CITY SIGNS DEAL TO ACCEPT CRYPTO FOR MUNICIPAL PAYMENTS

Panama City has officially signed an agreement with Towerbank to enable residents to pay for municipal services, Towerbankxes, fees, and permits using cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), and Tether (USDT). ​

The city will not hold crypto directly; instead, TTowerbankwill convert all digital payments into U.S. dollars at the point of transaction, ensuring compliance with existing legal requirements. ​

Mayor Mayer Mizrachi emphasized that this approach allows Panama City to adopt crypto payments without new legislation, positioning the capital as a leader in digital finance within Latin America.

Source: @bitcoinmagazine