Panama Accelerates the Adoption of BTC: Payments, Bank Accounts, and Upcoming Strategic Reserves

The mayor of Panama City, Mayer Mizrachi, made several announcements at the Bitcoin 2025 conference. Mizrachi revealed that Caja de Ahorros, the second largest bank in the country, will launch bitcoin-based savings accounts and proposed the idea of accepting payments in bitcoin for the canal. Panama Prepares to Become a Bitcoin Hub: Mayer Mizrachi Makes Important Announcements Panama is preparing to become a major financial center, integrating existing traditional fiat-based institutional infrastructure with a new financial framework based on Bitcoin. Mayer Mizrachi, the mayor of Panama City, made several announcements to encourage the adoption of Bitcoin during his appearance at the Bitcoin 2025 conference. Mizrachi revealed that Caja de Ahorros, the second largest bank in the country, will integrate bitcoin account functionality, allowing customers to take advantage of these custody services and simplify their bitcoin experience. At the conference, Mizrachi stated: Currently, the second largest national bank present tonight, Caja de Ahorros, will open Bitcoin accounts that can easily be traded in dollars. This agreement follows a previous agreement with Tower Bank, another financial institution, aimed at integrating cryptocurrency payments for the city of Panama, including the point of sale terminals (POS) that support Bitcoin transactions. Mizrachi also proposed allowing shipping companies to pay for passage through the Panama Canal using bitcoin and suggested providing these companies with additional benefits. He stated: If you get privileges when paying with Bitcoin, will your train run faster if you pay with Bitcoin? Mizrachi estimates that Panama is currently an important cryptocurrency hub, with over 5 billion dollars in Bitcoin transactions taking place annually without government approval. However, the country still lacks a clear framework for cryptocurrency regulation, as former President Laurentino Cortizo rejected an initiative passed by the Panamanian Congress in 2022. This could change in the short term, as the substitute representative Gabriel Solis has introduced another bill to establish clear rules for cryptocurrency companies operating domestically. Previously, Mayer hinted at establishing a bitcoin reserve for the city and using Panama's energy resources to mine bitcoin.