Cannes, a renowned city in France, is set to begin accepting cryptocurrency payments citywide by summer 2025. This initiative, spearheaded by Web3 firm Lunu Pay, aims to modernize the local economy.
The Move Towards a Crypto-Friendly Economy
The city of Cannes has started plans to integrate cryptocurrency payments by 2025. Mayor **David Lisnard** supports this initiative aiming for extensive adoption among local merchants. Specialized workshops will educate business owners on cryptocurrency systems.
Implementation and Impact
Local merchants will soon accept cryptocurrencies, such as Bitcoin and Ethereum, enhancing payment options and potentially boosting local commerce.
"This move represents a significant shift in how cryptocurrencies are perceived, transitioning from a niche technology to a mainstream payment method," remarked **Artem Shaginyan**, Founder and Head of Strategy at Lunu Pay. Attracting high-net-worth crypto holders becomes a focal strategy for this initiative.
Prospects of Digital Currency Technologies
The integration of cryptocurrency into the financial systems of cities could set a precedent for other cities in Europe and worldwide. This transition may stimulate policy developments in cryptocurrency regulation, reflecting a growing acceptance of digital assets in commerce.
Initiatives like this could stimulate investment in new technologies, enabling cryptocurrencies to expand into daily transactions and alter the financial landscape of cities.
