Key Points:
City officials in Detroit said it would start accepting cryptocurrency for some payments, making it the largest city in the United States to do so. Starting in mid-2025, residents can pay all sorts of taxes and fees in cryptocurrency through a payment platform powered by PayPal. This move supports Detroit’s commitment to adopting innovative technologies that increase economic growth and civic engagement.
By offering this, the city wants to make it more accessible to residents and entrepreneurs, hence highly helpful for those unbanked, who do not have access to traditional banking service opportunities. It is part of a larger plan to use the technology behind the blockchain for betterment and/or increased transparency of different public services, according to The Block.
Read more: OKX Lists PayPal USD (PYUSD) For Spot Trading Starting Oct 2024
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