Phoenix Suburb like Chandler and Arizona commuity will accept bitcoin, ether, and litecoin held through PayPal for Utility Payment.
In the latest example of local governments embracing cryptocurrencies, Arizona community is enabling people to pay their utility bills in bitcoin (BTC) and ether (ETH).
Residents of Chandler, a Phoenix suburb, can now pay with bitcoin, ether, and litecoin (LTC) held in their PayPal (PYPL) accounts, according to a statement released on Wednesday. However, the city will never touch the coins; according to a news release, the city’s utility payments processor, Invoice Cloud, will sell them all for fiat.
In a news release, City Council member Mark Stewart stated that it is critical to provide citizens with the most up-to-date technology, such as crypto payments. However, it was unclear at press time whether anyone in the 250,000-person metropolis had begun to use the option.
Chandler isn’t the first city in the United States to combine cryptocurrency with utility payments. Mercedes, Texas, voted in November to conduct research on the topic, months after Williston, North Dakota, made its service available online. Both are a tenth of the size of Chandler, which has a population of nearly 273,000 people.
Chandler’s adoption of PayPal means that billpayers will be unable to use their own currencies. PayPal’s crypto service is a closed loop that prevents digital assets from entering or exiting the system.