Key takeawaysDetroit will launch a PayPal-managed crypto service by mid-2025, enabling its residents to make payments using Bitcoin ($BTC) and Ethereum ($ETH).Diving deeper into Web3, Detroit is calling for blockchain innovators to pitch ideas for decentralized developments thatll improve the city.Only three other US states accept crypto payments, making its ambition of becoming the largest US city for crypto payments plausible.By mid-2025, Detroiters will be able to spend crypto freely through a PayPal-managed platform.Another boon of the upcoming service is that theyll be able to pay their taxes using popular coins like $BTC and $ETH.Ultimately, the city strives tothe largest US city for crypto payments and welcome more innovative Web3 developments.Crypto Payments to Aid Unbanked DetroitersThe Detroit crypto payments initiative is a critical component for the city to enhance its financial services especially for those with limited access to traditional banks.Its an extremely strategic move, considering that 23% of low-income Americans are living without a bank account, and Detroit is one of the poorest major US cities. This new payment platform will increase accessibility for Detroiters who would like to use cryptocurrency; more importantly, the platform upgrade will also make it easier for Detroiters to make electronic payments including those who may be unbanked. Treasurer Nikhil PatelBy exploring blockchain-based technology, it positions itself in a financial landscape where cryptocurrency is becoming increasingly accepted.Per Chainalysis, the US ranks fourth in global crypto adoption, trailing behind India, Nigeria, and Indonesia. Source: ChainalysisDetroit Scours Other Blockchain InnovationsDetroit is doubling down on Web3, inviting blockchain entrepreneurs to pitch their ideas for city-changing decentralized developments.This open call seeks innovative projects that enhance data security and transparency, as well as streamlines public services.Proposals (to be sent to [emailprotected] by Dec. 15) should outline potential costs, stakeholders, risks, and their role in empowering the citys operations and residents.Is Its Plan for Web3 Dominance Plausible?Detroits plan to become the largest US city for crypto payments isnt too far-fetched. Just three US states Ohio, Louisiana, and Colorado accept crypto for tax payments.However, more cities are becoming attuned to the value of blockchain technology, possibly impeding Detroits progress.Miami notably positioned itself as a crypto-friendly hub early on; it rolled out MiamiCoin for city donations in 2022.Others that have also progressed in the crypto arena include Williston (North Dakota), accepting crypto for utility bill payments, and Miami Lakes (Florida), using PayPals crypto service for town contributions.Additionally possibly hindering Detroits lead is the self-proclaimed crypto president, Donald Trump, winning the presidential race.Given the high chance of looser US crypto regulations incoming, traditionally anti-crypto cities might switch their perspectives, making it tricky for Detroit to claim the top spot.ReferencesClick to expand and view sources23% of low-income Americans are living without a bank account (CNBC)Detroit, Michigan Population 2024 (World Population Review)Chainalysis Report: The 2024 Global Adoption Index (Chainalysis) Detroit to become largest city in US to accept cryptocurrency payments for taxes, other fees (Detroit.gov)2024 Cryptocurrency Adoption and Sentiment Report (Security.org)What is Miami Coin? (CoinMarketCap)Add Techreport to Your Google News Feed Get the latest updates, trends, and insights delivered straight to your fingertips. Subscribe now! Subscribe now Leah is a seasoned British journalist with nine years of expertise who specializes in Web3 reporting. Her insightful contributions have graced the pages of respected publications, including Coinbound, Cointelegraph, Bitcolumnist, NFT Lately, and NFT Plazas. With a keen eye for detail, she offers distinct perspectives on the ever-evolving blockchain industry. View all articles by Leah Waters (Alger) Our editorial processThe Tech Reporteditorial policyis centered on providing helpful, accurate content that offers real value to our readers. We only work with experienced writers who have specific knowledge in the topics they cover, including latest developments in technology, online privacy, cryptocurrencies, software, and more. Our editorial policy ensures that each topic is researched and curated by our in-house editors. We maintain rigorous journalistic standards, and every article is 100% written byreal authors.