Panama City Mayor Mayer Mizrachi has proposed allowing ships to pay in Bitcoin for expedited passage through the Panama Canal. Speaking at the Bitcoin 2025 conference in Las Vegas, Mizrachi floated the idea of offering perks—such as faster transit—to vessels that settle tolls in Bitcoin. “What if you get your ship to go quicker if you pay in Bitcoin?” he asked, suggesting this could modernize payments for one of the world’s busiest trade routes.
The Panama Canal processes nearly 10,000 transits annually, representing around 5% of global maritime trade. In the 12 months ending September 2024, the canal earned about $5 billion in revenue. With Panama City generating over half of the country’s GDP, Mizrachi has increasingly advocated for the adoption of digital assets across public infrastructure, including the creation of a Bitcoin treasury reserve for the capital.
Panama City has already taken significant steps toward crypto integration. Earlier this year, it approved a policy allowing residents to pay taxes, fines, and fees in Bitcoin, Ethereum, USDC, and Tether. To maintain compliance, the city uses a banking partner to automatically convert crypto payments into U.S. dollars before funds reach public accounts. Mizrachi argues this hybrid approach promotes adoption while preserving financial stability.
On a national level, Panama has softened its once-cautious stance on crypto. A 2025 draft bill seeks to regulate digital assets, enforce licensing, and bring the sector in line with global standards. It also proposes recognizing smart contracts and blockchain use in government systems. To stay informed on Panama’s evolving crypto strategy, visit TheCoinInfo.
