2021-5-15 21:44 |
Following mainstream adoption of cryptocurrencies as a payment option, the City of Williston is joining a posse of US states accepting crypto payments.
Crypto Payment Cost-EffectiveAccording to an announcement posted on its website, the North Dakota city said it would be accepting cryptocurrencies as a payment option. However, this would be limited to utility bill settlements only.
But it says it has plans to enable other bill payments soon. The city will conduct quality assessments to know if there is market demand for crypto payment in areas like landfills, permits, and licenses before supporting them.
Speaking on the initiative, Finance Director Hercules Cummings said the state is exploring the digital payment method to keep pace with a fast-changing financial landscape. Cummings said that it is also trying to meet growing market demand for these services and cater to users of all types.
He noted that digital payment methods like cryptocurrencies brought about convenience, cost savings, and security. Cummings stated the affordability of crypto payments, noting that Bitcoin payments attracts1% transaction fee against 3% from other payment options.
The City of Williston has selected Bitcoin payment company Bitpay as a partner.
Aside from crypto payments, the City of Williston said it would also be accepting fiat, checks, credit card, and automatic payment methods. This will see them support consumer payment platforms like Google Pay and Apple Pay.
It is also planning to add PayPal and Venmo to its virtual payment methods.
Williston Joins The Crypto Payment WagonDespite what many crypto investors believe about the US crypto space, there is growing interest in the volatile asset class. Across major cities in the U.S, more government officials are turning to cryptocurrencies. One of such is Miami.
The City of Miami has been pro-crypto for a long time. Its principal, Mayor Francis Suarez, has committed to making the state a crypto haven for crypto startups.
To facilitate this initiative, Suarez proposed that municipal workers should be paid with cryptocurrencies. He also said the City of Miami should begin receiving tax payments in Bitcoin.
Suarez has also reportedly hired Miami’s first CTO for crypto Saif Ishoof who he said would provide “concierge services” for crypto startups coming into the state.
In Jackson, Tennessee, Mayor Scott Conger said the city is working on paying workers in cryptocurrencies. The municipality will also be mining Bitcoin and adding it to the city’s balance sheet.
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