DETROIT – Residents in Detroit are going to be able to pay their taxes and other city fees using cryptocurrency next year, officials announced.
Cryptocurrency payments will be accepted through a secure platform managed by PayPal, according to a release from the city.
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The payment option will be available to residents in mid-2025, and once it’s available, Detroit will be the largest city in the U.S. to accept cryptocurrency payments.
Cryptocurrency is a digital currency that utilizes cryptography and a decentralized network for secure transactions without the use of a bank or government.
Adding this payment option is part of Detroit’s strategy to implement new technologies to enhance public services and bolster economic growth.
“Detroit is building a technology-friendly environment that empowers residents and entrepreneurs, said Detroit Mayor Mike Duggan. “We are excited to be one of the first major U.S. cities to explore blockchains civic applications and allow residents to use their cryptocurrency as a payment option.”
In addition to adding this payment option, the city is interested in projects that will improve data security and streamline public services, and is encouraging blockchain entrepreneurs to pitch their ideas to pitchdetroit@detroitmi.gov by Dec. 15.
These entrepreneurs should include the following in their proposals:
- descriptions of proposed solutions
- potential stakeholders, costs and risks
- how ideas will improve city services
- how ideas will benefit residents
Currently, only Colorado, Utah and Louisiana accept cryptocurrency for government payments.
