Crypto Payments Now Accepted for Public Services: Panama City residents can now pay taxes, permits, and fines using cryptocurrencies like Bitcoin, Ethereum, USDC, and USDT
Towerbank Facilitates Crypto Transactions: Towerbank acts as an intermediary, converting crypto payments into U.S. dollars to ensure compliance with legal requirements
Voluntary Adoption Without Legal Mandate: The use of cryptocurrencies for payments is optional, allowing individuals and businesses to choose their preferred payment method
Enhanced Transparency and Efficiency: The initiative aims to improve fiscal transparency and efficiency by leveraging blockchain technology for traceable transactions
Potential Model for Regional Adoption: Panama City's approach could serve as a model for other municipalities considering the integration of cryptocurrencies into public services