Catenaa, Friday, June 05, 2025-Mayor Mayer Mizrachi has proposed allowing cargo ships to pay in Bitcoin for priority passage through the Panama Canal, signaling a bold intersection of digital currency and global trade.
Speaking at the Bitcoin 2025 conference in Las Vegas, Mizrachi raised the idea during a panel with El Salvador’s Bitcoin advisers Max Keiser and Stacy Herbert.
He suggested that offering perks to vessels paying in Bitcoin could incentivize broader crypto adoption while modernizing payment systems at the critical trade route.
The Panama Canal facilitates nearly 5% of global maritime commerce, with close to 10,000 vessels transporting over 423 million tons of goods annually. It generated approximately $5 billion in revenue during the last fiscal year.
The idea comes amid renewed geopolitical scrutiny. In December 2024, President Donald Trump called for the US to reclaim oversight of the canal, citing concerns about Chinese influence and alleged discrimination against American vessels.
Mizrachi has aggressively championed crypto integration in Panama City. Since April, residents have been permitted to pay taxes and municipal fees using Bitcoin, Ethereum, USDT and USDC. The city instantly converts these into US dollars through a local bank.
The mayor has also teased plans for a Bitcoin reserve and has drawn comparisons to crypto-friendly regions such as Lugano and the state of Colorado. He urged lawmakers to avoid stifling innovation by overregulating too early.
Though still conceptual, the Bitcoin-for-canal-passage proposal reflects Panama City’s growing ambition to become a hub for crypto innovation and financial modernization.
