Cannes Merchants to Begin Accepting Crypto Payments by Summer in an Effort to Attract New Clientele

Merchants in Cannes, France, the site of the international Cannes Film Festival, are set to begin accepting crypto payments by summer this year

The sunny city of Cannes, France, is known worldwide for its glitzy film festival and glamorous atmosphere, a perfect backdrop for movie stars and a discerning crowd with a high volume of disposable income. Now, Cannes is set to take another step into the modern age with plans to introduce crypto payments for summer 2025.

The goal is to achieve a 90% adoption rate among merchants in the city, Artem Shaginyan, founder and head of strategy of Web3 payment company Lunu Pay, which is facilitating the integration, told Cointelegraph.

Municipal government is focused on boosting crypto adoption

CoinsPaid, a crypto payments processing company, is also working with the city of Cannes on a broader initiative to increase the presence of cryptocurrencies in the city.

As part of these efforts, Cannes will be hosting an integration training session for business owners and professionals in February. The session will focus on the technicalities of accepting crypto payments and will be open to all interested parties.

The city of Cannes is aiming to become a leading destination for cryptocurrency payments. This initiative is part of a broader trend of cities, states and federal governments increasing their efforts to accept and use cryptocurrencies in an effort to remain competitive on the global stage.

For example, the Swiss city of Lugano began accepting Bitcoin (BTC) and stablecoin payments for taxes and municipal fees in December 2023 as part of the city's broader initiative to become a global crypto hub.

In September 2024, Governor Jared Polis of the US state of Colorado directed the state's Department of Revenue to commence accepting crypto tax payments.

Canadian city Vancouver moves to accept Bitcoin taxes

Meanwhile, in December 2024, the Canadian city of Vancouver passed a motion to make the jurisdiction a “Bitcoin-friendly city.” This will involve exploring the integration of BTC into the city's financial system and potentially adopting a Bitcoin treasury strategy.

Most recently, the capital city of Panama announced that taxes and municipal fees can now be paid in crypto. According to a report by news outlet La Critica, the city will accept BTC, ETH, USDC and USDT for these payments.

Announcing the move, Panama City mayor Mayer Mizrachi said it would serve to modernize the city and bring increased investment as well as global recognition.