Cannes, renowned for its annual film festival and luxury tourism, is making a significant move toward modernizing its payment infrastructure. By the summer of 2025, the city aims for 90% of its merchants to accept cryptocurrency payments, positioning itself as a leader in digital finance.
A Strategic Shift Toward Digital Currency
The initiative is spearheaded by the Cannes municipal government in collaboration with Web3 payment company Lunu Pay. Artem Shaginyan, Lunu Pay’s founder and head of strategy, emphasized the importance of this development, stating that integrating crypto at scale in a city like Cannes demonstrates that Web3 payments are transitioning from niche to mainstream.
In February, Mayor David Lisnard organized training sessions for local business owners to facilitate the adoption of crypto payments. These sessions covered technical, legal, accounting, and tax aspects, aiming to demystify cryptocurrencies for merchants.
Benefits and Challenges Ahead
Adopting cryptocurrency payments offers several advantages:
- Attracting Affluent Clientele: By accepting digital currencies, Cannes can appeal to high-net-worth individuals and tech-savvy tourists who prefer decentralized finance options.
- Modernizing Payment Systems: Integrating crypto payments aligns with global trends, positioning Cannes as a forward-thinking city embracing financial innovation.
- Enhancing Transaction Security: Cryptocurrencies offer secure, transparent, and tamper-proof transactions, reducing the risk of fraud.
However, the transition is not without challenges. Businesses need to invest in infrastructure and training to handle digital transactions effectively. Additionally, educating consumers unfamiliar with cryptocurrencies is crucial to ensure widespread adoption.
Aligning with Global Trends
Cannes’ move mirrors a broader global trend of cities embracing cryptocurrency:
- Lugano, Switzerland: Started accepting Bitcoin and stablecoin payments for taxes and municipal services in December 2023.
- Colorado, USA: Began accepting crypto tax payments in September 2022.
- Vancouver, Canada: Approved a motion in December 2024 to explore integrating Bitcoin into the city’s financial system.
- Panama City: Announced in April 2025 that taxes and municipal fees could be paid in cryptocurrencies, including Bitcoin and Ether.
By adopting cryptocurrency payments, Cannes not only modernizes its payment ecosystem but also positions itself as a leader in financial innovation, potentially attracting increased investment and global recognition.
