The City of Detroit will become the largest US city to accept Bitcoin as a means of payment.
In a press release, the 26th-largest city stated that Detroiters will soon be able to make payments for city-related utilities through Bitcoin. Detroit noted that it will accept tax payments and city fees using cryptocurrencies.
The payment options would become available to Detroiters in mid-2025. The Thursday report revealed that Detroit partnered with financial technology giant PayPal to create a platform that would facilitate the payment option.
The debut of payment options will make Detroit the most populous US city to accept cryptocurrencies as a means of paying taxes and city fees. Notably, states like Utah, Colorado, and Louisiana have already adopted this payment option.
However, Detroit will become the largest US city to have adopted cryptocurrencies in that capacity. The Michigan Midwest-based city has a population of 633,218 as of 2023 and was once the fourth-largest, with almost 2 million residents in mid-1950.
Meanwhile, two other cities have teased accepting cryptocurrencies as a means of payment in the US, but it remains under deliberation. Miami and New York showed interest in adopting crypto settlements, with the former even creating a native token, Miami Coin.
Read more: thecryptobasic.com
