Panama City considers Bitcoin for canal payments
Mayer Mizrachi is pushing for Panama City to become a crypto-forward hub, including a potential Bitcoin reserve.
Panama City’s Mayor Mayer Mizrachi has floated the idea of letting cargo ships pay in Bitcoin. The proposal would allow faster passage through the Panama Canal, one of the world’s most vital trade routes.
Speaking at the Bitcoin 2025 conference in Las Vegas, he suggested offering perks to vessels choosing Bitcoin as a payment method. The canal processes nearly 10,000 ships a year and accounts for around 5% of global maritime trade.
Mizrachi’s proposal comes as part of his broader effort to integrate Bitcoin into public infrastructure. Panama City began accepting crypto for municipal payments in April, instantly converting transactions into dollars.
The mayor is also exploring the creation of a Bitcoin reserve and has sought inspiration from El Salvador’s pro-Bitcoin policies.
The idea of crypto payments for canal fees emerges amid rising international interest in the waterway. Mizrachi, however, urged lawmakers not to rush into restrictive crypto regulation, advocating instead for a hands-off approach.
While the Bitcoin-for-passage concept remains in its early stages, Mizrachi claims crypto use in Panama is more widespread than it appears, with over $5 billion in annual transactions.
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