Torrevieja to Embrace Bitcoin Payments

The administration of Torrevieja, a city in Spain’s Alicante province, announced a digital transformation project allowing local shops to accept cryptocurrency payments.

The initiative is being conducted in collaboration with the city’s Ministry of Commerce and the Association of Small and Medium Traders.

The authorities aim to transform Torrevieja, home to 82,000 residents, into Europe’s first crypto-friendly city.

The use of digital assets in commerce will be the initial phase of the project. Subsequently, the administration plans to employ blockchain in environmental initiatives and the financing of tech companies.

As part of the extensive transformation, the University of Alicante will launch special courses on digital payments for local businesses.

Although cryptocurrency payments have been permitted in Spain since 2015, local authorities had not previously attempted to develop digital payments. Moreover, Bitcoin and other cryptocurrencies do not have the status of legal tender in the country.

Since autumn 2022, Spanish telecom giant Telefónica has been accepting crypto payments.

Earlier, Spain’s Ministry of Finance announced plans to confiscate digital assets to settle tax debts.

Back in May 2023, the Swiss city of Lugano announced plans to make Bitcoin, Tether, and the city token LVGA “de facto” legal tender.