Panama City’s Mayor, Mayer Mizrachi, is exploring the potential of integrating bitcoin payments into the city’s infrastructure, drawing inspiration from El Salvador’s adoption of the cryptocurrency. At the Bitcoin 2025 event in Las Vegas, Mizrachi shared his vision of incorporating bitcoin payments into various aspects of Panama City, including the possibility of allowing payments for passage through the Panama Canal in bitcoin.
Mizrachi envisions leveraging bitcoin not only for streamlined transactions but also for offering incentives to users. By proposing the idea of expedited processing for those paying in bitcoin, he aims to create a system that rewards users for embracing this innovative payment method.
Building on the success of a bill enabling Panama City residents to pay taxes, parking tickets, permits, and other fees using cryptocurrencies like bitcoin, ether, and stablecoins, Mizrachi is looking to further expand the utility of digital currencies within the city’s operations.
Taking cues from El Salvador’s groundbreaking move to adopt bitcoin as legal tender, Mizrachi is keen on exploring how bitcoin can revolutionize financial transactions within Panama City. By contemplating the establishment of a strategic bitcoin reserve and exploring the potential benefits of bitcoin payments for the Panama Canal, Mizrachi is at the forefront of integrating digital currencies into traditional payment systems.
As global interest in cryptocurrencies continues to grow, Mizrachi’s innovative approach underscores the potential for digital currencies to transform traditional payment methods, ushering in a new era of financial transactions that are efficient, secure, and inclusive.
