Torrevieja, a city of almost 90,000 inhabitants, aims to become one of the first crypto-friendly locations in Spain. The city, in alliance with Apymeco, its merchant association, will incentivize using cryptocurrency as a payment option and give courses for stores interested in learning how to receive and use cryptocurrency.
Torrevieja to Become the First Crypto Friendly City in Spain
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Torrevieja to Incentivize Crypto Adoption
Torrevieja, a city in Spain with 90,000 inhabitants, is moving to become a crypto hub. Last week, the city revealed a multi-phase plan to become a crypto-friendly location with the help of Apymeco, the local merchants association.
The plan’s first phase, which seeks to increase the digitization of commerce transactions using blockchain technology, will promote commerce through cryptocurrency as a transactional tool, aiming to allow stores to collect payments of goods and services using crypto.
The second phase will focus on sustainability, seeking to generate a positive effect on the environment and to rescue and recover Torrevieja’s green spaces. The third phase will improve the conditions for tech companies to settle in the city, offering financing to bring more IT jobs to the town.
Jorge Almarcha, president of Apymeco, stated:
In Spain, since 2015, it has been legal to pay with cryptocurrencies. However, it was not until today that we wanted to democratize its use as a means of payment in standard, neighborhood, and traditional commerce.
Furthermore, Almarcha stated that Apymeco seeks to bring investments to Torrevieja with this initiative, getting more people to know what the city has to offer.
The city will collaborate with this initiative, offering courses to educate the merchants on the use of cryptocurrency to collect payments, according to Rosario Martínez Chazarra, Torrevieja’s Councilor for Commerce.
Apymeco is already signing up stores for this initiative and will build a joint cryptocurrency payment system to be implemented by the participants during the first phase of the association’s plan. Nonetheless, a roadmap for such implementation has not been revealed yet.
What do you think about Torrevieja and its cryptocurrency implementation plan? Tell us in the comments section below.
