Most shops in Cannes to accept crypto by summer this year — Web3 exec

By summer of this year, merchants in Cannes (France), the home to the Cannes Film Festival international, will begin accepting cryptocurrency payments in order to appeal to clients with high incomes by modernizing their city’s payment system.

Artem Shaginyan is the founder and strategy head at Web3 Payment Company Lunu Pay. According to him, Cannes Municipal Government aims for 90% of local merchants adopting Lunu Pay. Cointelegraph also spoke to the executive:

“This is a big signal. When a city like Cannes, known globally for culture and commerce, starts integrating crypto at scale, it shows that Web3 payments aren’t just a niche thing anymore. It’s about proving that crypto can work in everyday settings, not just online or in theory.”

David Lisnard, Mayor of Cannes in February announced The city is promoting the use of crypto-payments by offering a training course for local businesspeople and professionals.

Canne’s move to embrace cryptocurrencies is part of a broader trend in which city, state and federal government institutions are adopting crypto as they strive to stay competitive globally.

Related: Panama’s capital to accept crypto for taxes, municipal fees

What is the current state of crypto? Other jurisdictions adopt crypto

Lugano, Switzerland will begin accepting Bitcoin in December 2023.BTCThe stablecoin payments for taxes and municipal fees As part of the city’s larger initiative to become a crypto hub.

Colorado Governor Jared Polis directed his state’s Department of Revenue, the Department of Revenue of Colorado to start the process. accepting crypto tax payments In September 2022,

Vancouver in Canada adopted a motion to this effect on December 20, 2024. make the jurisdiction a “Bitcoin-friendly cityThe city is exploring ways to integrate BTC with its financial system. It may also adopt a Bitcoin-based treasury.