The town is launching a one-year pilot with Toronto-based Coinberry, which lets people buy and sell cryptocurrencies. The Bitcoin payments will be converted to Canadian dollars. (MobileSyrup)
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The town is launching a one-year pilot with Toronto-based Coinberry, which lets people buy and sell cryptocurrencies. The Bitcoin payments will be converted to Canadian dollars. (MobileSyrup)
Talking point: Innisfil is the first municipality in Canada to accept cryptocurrency payments, but it’s not the world’s first. Zug, a city in Switzerland, started accepting Bitcoin payments for public services in 2016. Even though only a dozen people in its town of 30,000 were using the service at the end of the five-month pilot, Mayor Dolfi Mueller said it sent a signal to fintech companies that the town was open to innovation. Innisfil—which has just over 36,000 people—has tried to send a similar message. In 2017, the town launched a pilot project with Uber to integrate the ride-sharing service into its public transportation by giving users a discount on Uber rides.
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