- Panama City pushes forward with Bitcoin in government and finance sectors.
- State-owned Caja de Ahorros to offer Bitcoin savings accounts soon.
- Tower Bank enables tax payments in Bitcoin across Panama City.
Panama City is taking important steps toward embracing Bitcoin as part of its public and financial systems. During the Bitcoin 2025 conference in Las Vegas, Mayer Mizrachi, the mayor of Panama City, announced new happenings that show an increase in nationwide interest in cryptocurrency.
Government-Owned Bank to Launch Bitcoin Savings Accounts Soon
It was also revealed that Caja de Ahorros, which is owned by the government and the country’s second-largest bank, will start providing Bitcoin savings accounts soon. People using the mayor’s accounts will not only be able to manage their Bitcoin but also exchange it for dollars directly within the app. As a result, this initiative could increase Bitcoin’s accessibility and everyday usage. Furthermore, with Caja de Ahorros operating nationwide, the move may lead to broader acceptance of Bitcoin in Panama’s financial sector.
Soon after, the bank confirmed the announcement by posting its plans on social media, telling everyone more information and the official procedure would be available shortly. This matters because now a government body is involved in embracing cryptocurrencies.
Panama has shown an interest in digital currency before. Back in April, Tower Bank began working with the Municipality of Panama to give people the option of paying taxes with Bitcoin. Businesses and government offices in Tower Bank’s network can now accept cryptocurrency as payment at checkouts.
Mayor Hints at Bitcoin Reserve Amid Growing Crypto Plans
They show that Panama City is interested in digital progress and is helping it to happen. Approximately $5 billion worth of Bitcoin transactions cross through Panama every year, said Mayor Mizrachi. He noted that since more than 70% of Panama’s GDP depends on the capital, what happens in Panama City often changes the rest of the country. Therefore, if Bitcoin is introduced by cities, it could lead to wider changes all over the country.
Moreover, Panama may be preparing for an even bigger move. In mid-May, the mayor wrote a post to X (formerly Twitter) that said only “Bitcoin Reserve.” Although no other information was given, the post soon went viral. Many believe this message came after conversations between Mizrachi and Bitcoin supporters Max Keiser and Stacy Herbert. Even though those talks haven’t revealed details, there have been more discussions about setting up a Bitcoin store in the city.
Panama City is already making progress towards becoming a true smart city. In April 2025, the city council agreed to use Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC) and Tether (USDT) for paying for different government-related transactions. Because of this, residents can pay taxes and other fees using digital tokens. This move puts Panama among the growing number of countries testing new blockchain services.
Overall, Panama City’s administration seems serious about using Bitcoin in its economy. Although there are still some uncertainties, progress is being made. With support from public and private banks, the plan is gaining strength. In addition, ideas like a Bitcoin reserve are helping the city become a digital finance leader in the region. As the mayor said, what is established in the capital could soon serve as a template for the whole country.
The post Panama City Moves Forward with Bitcoin Integration for Public Services appeared first on Live Bitcoin News.
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