Torrevieja: Spain’s First Crypto-Friendly City

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Torrevieja, a city with nearly 90,000 people, is striving to be among the first crypto-friendly places in Spain. Teaming up with its merchant association, Apymeco, the city plans to encourage the use of cryptocurrency as a payment method.

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They will also offer training courses to businesses keen on accepting and managing cryptocurrency transactions.


Torrevieja: Transitioning into a Crypto-Friendly City

Torrevieja, a Spanish city with a population of 90,000, is embarking on a journey to become a cryptocurrency hub. Collaborating with the local merchants association, Apymeco, the city introduced an ambitious plan last week aimed at embracing cryptocurrencies.

The first phase of the plan focuses on leveraging blockchain technology to digitize commercial transactions. This step aims to encourage businesses to adopt cryptocurrency as a payment method, allowing them to accept digital currencies for their products and services.

Moving forward, Torrevieja is placing emphasis on sustainability in its next phase. The city aims to prioritize environmental conservation and the restoration of its green spaces while also seeking to attract tech companies. Financial incentives will be offered to lure these companies, with the goal of creating more job opportunities in the IT sector.

Jorge Almarcha, the president of Apymeco, underscored the significance of this initiative. He emphasized the goal of democratizing cryptocurrency usage, making it accessible not only in conventional commerce but also in neighborhood and traditional markets. While cryptocurrency payments have been legal in Spain since 2015, the city’s initiative aims to expand their adoption and accessibility.

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Torrevieja’s Push for Investment and Education in Cryptocurrency

Apymeco’s president, Jorge Almarcha, expressed the organization’s goal of attracting investments to Torrevieja through this cryptocurrency initiative. By raising awareness about the city’s offerings, they hope to draw more attention and investment to the area.

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In collaboration with this initiative, Torrevieja will offer educational courses to merchants to familiarize them with cryptocurrency usage for accepting payments. Rosario Martínez Chazarra, Torrevieja’s Councilor for Commerce, confirmed the city’s commitment to providing these courses, highlighting the importance of educating merchants about cryptocurrency transactions.

Apymeco is actively enrolling stores for participation in the initiative. As part of the association’s plan, a joint cryptocurrency payment system will be developed and implemented by the participating merchants during the initial phase. However, specific details regarding the implementation timeline have not yet been disclosed.


Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

 

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