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The Motor City will add cryptocurrency payments for taxes and some fees in 2025, while Alchemy Pay gains money-transmitter licensing approvals in four U.S. states.
Detroit will begin accepting cryptocurrencies for city fees and taxes, becoming the largest U.S. city so far to do so, says a statement from Mayor Mike Duggan. Only Colorado, Utah, and Louisiana accept cryptocurrency for state payments, the statement notes.
The platform will be managed by PayPal Holdings Inc., which launched its own stablecoin—PayPal USD —in 2023.
Adding crypto acceptance will accompany other unspecified improvements to the city’s payment services, Nikhil Patel, Detroit treasurer, says in a statement. “This new payment platform will increase accessibility for Detroiters who would like to use cryptocurrency; more importantly, the platform upgrade will also make it easier for Detroiters to make electronic payments–including those who may be unbanked,” Patel says.
Other cities that accept cryptocurrency payments include Williston, N.D., and Miami Lakes, Fla., according to the Detroit press release.
In related news, Alchemy Pay, a Singapore-based cryptocurrency gateway, says it received money-transmitter license approvals in Minnesota, Oklahoma, Oregon, and Wyoming, doubling the number of such licenses it holds. It already has approvals in Arkansas, Iowa, New Hampshire, and New Mexico. The additional licenses will enable Alchemy Pay to expand its services to these states.
Alchemy Pay says it has more than 1 million registered users globally. It is registered as a money-services business in Canada and says it continues to work on licensing approvals in several other global regions.
