Detroit, the largest city in Michigan, USA, announced that citizens will soon be able to pay taxes and other municipal fees using cryptocurrency through PayPal.
According to a statement released by the Detroit City Finance Department on November 7, the cryptocurrency payment option will be provided through a 'PayPal-managed secure payment platform' and is expected to officially launch in mid-2025.
It is currently unknown which cryptocurrencies Detroit will accept, but the types supported by PayPal are limited to Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), and PayPal's own stablecoin PayPal USD (PYUSD).
Once the new payment option goes live, Detroit will become the largest city in the United States to accept cryptocurrency payments.
So far, Miami Lakes in Florida and Williston in North Dakota are two cities in the United States that have accepted cryptocurrency payments for municipal fees and taxes; Colorado, Utah, and Louisiana also offer similar payment options, converting cryptocurrency into USD through third-party payment platforms like PayPal and BitPay.
According to the statement, Detroit's decision to introduce cryptocurrency payments is one of the city government's strategies to 'promote innovative technology,' 'stimulate economic growth,' and 'attract blockchain and tech companies to settle in.'
Mayor Mike Duggan stated in a press release: "Detroit is committed to creating a tech-friendly city environment that makes it easier for citizens and entrepreneurs to utilize new technologies."
We are excited to be one of the first cities in the nation to explore blockchain in municipal applications, allowing citizens to pay with cryptocurrency.
In addition to announcing the acceptance of cryptocurrency payments, the Detroit city government is also soliciting innovative proposals for 'blockchain municipal applications' from cryptocurrency operators, particularly solutions that can 'enhance transparency, strengthen data security, and simplify public services.' These proposals will be personally reviewed by Justin Onwenu, the Director of Detroit Entrepreneurship and Economic Opportunity.
Justin Onwenu pointed out: "This announcement represents Detroit's open attitude towards new ideas and our determination to create a city suitable for entrepreneurs and innovators."
Blockchain technology helps improve the accessibility, efficiency, transparency, and security of municipal services, and we look forward to hearing the unique insights of entrepreneurs on the front lines.
"Detroit is making great strides into the 'crypto-economic era': Starting in 2025, citizens will 'be able to pay taxes using cryptocurrency'" this article was first published on (Block Client).
