Aiming to be the first ‘crypto city’ in Europe, the Spanish city of Torrevieja has started a new phase of crypto adoption by allowing its stores to accept crypto payments.
Torrevieja, a city in Spain, has set an ideal for other global cities aiming to be crypto-friendly. To become a ‘crypto city,’ Torrevieja has taken new actions that benefit the crypto space. The city’s administration published a press release on the subject, detailing how it allowed its stores to accept crypto payments. Meanwhile, the exercise is a collaborative project between the administration and the Association of Small and Medium Merchants of Torrevieja.
The Torrevieja City Council’s Department of Commerce wants to leverage blockchain technology and transform local commerce. The project’s first phase will depend solely on crypto payments and making it a medium for commerce. It will develop the relationship between businesses and consumers with crypto as a medium.
The second phase of the crypto adoption project will focus on environmental factors and sustainable development. Besides, the third phase will be about creating jobs in the technology sector and promoting new businesses in the sector.
Rosario Martínez Chazarra, the local Councilor for Commerce, expressed her optimism regarding the project’s potential. Meanwhile, she also mentioned how local businesses can start accessing the University of Alicante’s digital payment courses.
Jorge Almarcha, representing the merchants, claimed that crypto payments would democratize the digital payment sector. Spain’s crypto-friendly actions have paid off, as the country’s long-term crypto investors have increased. At the same time, the number of crypto industry firms has also risen in Spain.
In Europe, the Swiss city of Lugano also allowed its residents to pay taxes in crypto. The move was another initiative in Europe that promoted crypto adoption. In Asia, the South Korean city of Busan also has similar plans.
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