Panama City is moving forward with Bitcoin integration in government and finance sectors, with initiatives such as offering Bitcoin savings accounts by the state-owned Caja de Ahorros and enabling tax payments in Bitcoin through Tower Bank.
The government-owned Caja de Ahorros will soon provide Bitcoin savings accounts, allowing users to manage and exchange Bitcoin for dollars directly within the app, which could increase the cryptocurrency's accessibility and everyday usage in Panama.
Tower Bank in Panama City has started accepting tax payments in Bitcoin, showing the country's interest in digital currency and promoting its use in businesses and government offices within the bank's network.
The mayor of Panama City hinted at a potential Bitcoin reserve and emphasized the importance of embracing digital currency, showcasing the city's progress towards becoming a smart city and a digital finance leader in the region.