- Arizona is enabling the residents to pay their utility bills via the major cryptocurrencies Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC).
- It is important to serve the residents with the newest technology, like crypto payments, highlighted Mark Stewart, a city council member.
- Residents can pay in BTC, ETH and LTC held in their PayPal accounts.
A city in Arizona is now accepting payments of utility bills from its citizens in Bitcoin (BTC), and Ether (ETH). The Phoenix suburb Chandler recently said that residents could make payments via Bitcoin (BTC), Ether (ETH), and Litecoin (LTC) held in their PayPal (PYPL) accounts.
According to a Press Release, this city won’t utilise the coins, and rather the utility payments processor Invoice Cloud would sell them all for Fiat.
According to city council member Mark Stewart, who highlighted in a press release that it is important to serve the residents with the newest technology, like crypto payments. But it is still unspecified if anybody in the city with a population of 250,000 has begun to use the option.
Although Chandler is not the first city in the US to implement such a move of merging utilities with crypto assets, this comes following Mercedes, Texas Voted to research on the subject last year in November.
Additionally, Chandler’s choice of using PayPal signifies that the bill payers cannot use their self-custodian coins. Because PayPal’s service does not let digital assets in or out, this step sets the latest example of Cryptocurrency acceptance in Municipal Governments.
No matter how much scepticism the asset class witnesses, but cryptocurrencies have undoubtedly made a significant position in the finance space. More and more cities and entities are continuously developing ways to integrate crypto.
Well, this example of Chandler signifies that crypto is tapping the roots of peoples’ daily lives, and it is to look forward to if at all the asset class is majorly adopted for such cases, how efficient might it prove, and how would it facilitate the authorities in managing the country’s mundane finances. It would be worth noticing.
The post Arizona City Now Accepting Bitcoin for Utility Bills appeared first on The Coin Republic: Cryptocurrency , Bitcoin, Ethereum & Blockchain News.
Source: https://www.thecoinrepublic.com/2022/03/31/arizona-city-now-accepting-bitcoin-for-utility-bills/