The French city of Cannes, known globally for its rich cultural heritage and the prestigious Cannes Film Festival, is poised to take a significant step forward in modernizing its commercial landscape. By summer this year, local merchants are set to start accepting cryptocurrency payments, an initiative designed to attract a clientele with high disposable income and further enhance the city’s vibrant commercial ecosystem.
According to Artem Shaginyan, founder and head of strategy at Web3 payment company Lunu Pay, the municipalities aim for an impressive 90% adoption rate among Cannes’ merchants. In a statement to Cointelegraph, Shaginyan remarked on the broader implications of this initiative, saying, “This is a big signal. When a city like Cannes, known globally for culture and commerce, starts integrating crypto at scale, it shows that Web3 payments aren’t just a niche thing anymore. It’s about proving that crypto can work in everyday settings, not just online or in theory.”
In February, Cannes Mayor David Lisnard initiated a training session specifically designed for business owners and professionals, aimed at promoting the widespread acceptance of crypto payments throughout the city.
This strategic move by Cannes aligns with a broader global trend where municipalities at various levels are adopting cryptocurrencies, aiming to position themselves competitively in a rapidly evolving economic landscape.
Related: Panama’s capital to accept crypto for taxes, municipal fees
Ahead of the Curve? Other Jurisdictions Modernizing with Crypto
The city of Lugano, Switzerland, showcased its commitment to becoming a global crypto hub by starting to accept Bitcoin (BTC) and stablecoin payments for taxes and municipal fees in December 2023. Meanwhile, Jared Polis, the Governor of Colorado, instructed the state’s Department of Revenue to accept crypto tax payments as early as September 2022.
In December 2024, Vancouver city council passed a motion aimed at establishing the city as a “Bitcoin-friendly” jurisdiction, proposing integrations that could allow Bitcoin into its financial systems.
Most recently, Panama City announced that residents can now pay taxes and municipal fees in cryptocurrencies such as Bitcoin, Ether (ETH), Circle’s USDC, and Tether’s USDt. Mayor Mayer Mizrachi emphasized that this initiative would not only modernize financial transactions but also enhance the city’s attractiveness to global investors.
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