Torrevieja focuses on cryptocurrencies: the Spanish city promotes digital payments

Torrevieja is a small Spanish city with approximately 90,000 inhabitants. However, he has great ambitions. It wants to become the cryptocurrency center in the region. In alliance with the trader association, Apymeco will encourage the use of BTC and altcoins as payment options.

Torrevieja will encourage the use of cryptocurrencies

Torrevieja wants to take advantage of the growing interest in cryptocurrencies. The city authorities are to encourage people to pay with bitcoins and accept payments in digital assets.

The first phase of the local government's plan aims to increase the “digitalization of commercial transactions using blockchain technology.” Local authorities will promote trade through cryptocurrencies. In practice, it is a similar process to what is taking place in El Salvador – encouraging companies to accept payments in BTC.

The second phase is related to sustainable development. The local government will try to have a positive impact on the environment and save Torrevieja's green areas. The third stage is expected to improve the conditions for registering technology companies in the city.

Jorge Almarcha, president of Apymeco, said:

In Spain, it has been legal to pay with cryptocurrencies since 2015. However, only today have we wanted to democratize their use as a means of payment in standard, neighborhood and traditional trade.

Moreover, Almarcha said that with the new initiative it is trying to attract investments to Torrevieja, thanks to which more people will learn what the city has to offer.

According to Rosario Martínez Chazarra, a city councilor in Torrevieja, as part of this initiative, the region will offer entrepreneurs courses to educate the salespeople they employ on the use of cryptocurrencies as a form of payment collection.

Apymeco is already talking to stores that could be included in this initiative and is building a common payment system for the city based on cryptocurrencies, which will be implemented in the mentioned first phase of the association's plan.

Poles not geese

Mińsk Mazowiecki is implementing a similar initiative. The city has its own stablecoin, which is intended to help residents understand what blockchain technology is. It is also intended to be a local currency that the authorities will reward for activities beneficial to the region.