Most shops in Cannes to accept crypto by summer this year — Web3 exec

Merchants in Cannes, France, the site of the international Cannes Film Festival, are set to begin accepting crypto payments by summer this year in an effort to attract clientele with high disposable income by modernizing the city’s commercial payment ecosystem.

According to Artem Shaginyan, founder and head of strategy of Web3 payment company Lunu Pay, the Cannes municipal government is aiming for a 90% adoption rate among local merchants. The executive also told Cointelegraph:

“This is a big signal. When a city like Cannes, known globally for culture and commerce, starts integrating crypto at scale, it shows that Web3 payments aren’t just a niche thing anymore. It’s about proving that crypto can work in everyday settings, not just online or in theory.”

In February, Cannes Mayor David Lisnard announced a crypto payment integration training session for business owners and professionals to promote the widespread acceptance of crypto payments in the city.

Canne’s shift toward embracing cryptocurrencies reflects the broader trend of crypto adoption by city, state, and federal governments as these institutions seek to remain competitive on the global stage.

Related: Panama’s capital to accept crypto for taxes, municipal fees

Ahead of the curve? Other jurisdictions modernize with crypto

In December 2023, the Swiss city of Lugano started accepting Bitcoin (BTC) and stablecoin payments for taxes and municipal fees as part of the city’s broader initiative to become a global crypto hub.

Governor Jared Polis of the US state of Colorado directed the state’s Department of Revenue to begin accepting crypto tax payments in September 2022.

The Canadian city of Vancouver passed a motion in December 2024 to make the jurisdiction a “Bitcoin-friendly city” by exploring integrating BTC into the city’s financial system and potentially adopting a Bitcoin treasury strategy.