Binance Pay has announced a partnership with French fintech Lyzi, allowing over 80 businesses on the French Riviera to accept cryptocurrency payments.
Implementation of Cryptocurrency Payments
According to the press release, the rollout of crypto payments will take place in cities including Cannes, Nice, Antibes, and Monaco, integrating digital assets into the region's luxury tourism and retail economy. Visitors and locals will be able to pay with stablecoins and other cryptocurrencies, with transactions confirmed via QR code without incurring gas fees.
Support from City Officials
City officials in Cannes have been vocal in encouraging local merchants to adopt crypto payments. Cannes Mayor David Lisnard has called on businesses to start accepting cryptocurrencies alongside euros, emphasizing the risks of missing out without adaptation. He stated, 'We will be encouraging and especially training Cannes merchants in the integration of cryptocurrencies for payments as part of our Web3 strategy.'
Global Trends in Cryptocurrency Adoption in Tourism
Other countries are also beginning to embrace cryptocurrency in tourism. Bhutan recently launched a payment system in partnership with DK Bank that allows travelers to use over 100 cryptocurrencies. Thailand has also announced plans to enable tourists to spend cryptocurrency by linking their digital assets to credit cards.
The partnership between Binance Pay and Lyzi underscores the growing popularity of cryptocurrency payments in tourist destinations, opening new opportunities for businesses and travelers.
