ChainCatcher news, according to News.bitcoin, Panama City Mayor Mayer Mizrachi announced several initiatives at the Bitcoin 2025 conference.Mayer Mizrachi revealed that Panama's second-largest bank, Caja de Ahorros, will launch BTC-based savings accounts, allowing its customers to take advantage of these custodial services and simplify their Bitcoin experience.Earlier reports indicated that the Panama City Mayor proposed prioritizing Bitcoin payments for canal fee vessels and considering the establishment of a municipal Bitcoin reserve.

ChainCatcher news, according to Cointelegraph, Panama City Mayor Mayer Mizrachi hinted at the establishment of a city-level Bitcoin reserve in a post after meeting with two Bitcoin policy leaders from El Salvador. Mizrachi posted the message about "Bitcoin reserves" on the social platform X after meeting with El Salvador's Bitcoin advisor Max Keiser and the head of the Bitcoin office Stacy Herbert. The three discussed how Panama and El Salvador could leverage renewable energy to promote the development of Bitcoin mining. Additionally, Panama City will incorporate El Salvador's financial literacy textbook "What is Money?" into its online library system.

ChainCatcher news, according to The Block, Panama City Mayor Mayer Mizrachi Matalon posted on the X platform on Wednesday that the Panama City government has approved the use of cryptocurrency to pay taxes, fees, fines, and permits. Local media confirmed that the city will accept Bitcoin, Ethereum, USDC, and USDT. Mizrachi stated that the capital of Panama implemented this policy by partnering with a cooperative bank to convert cryptocurrency into US dollars at the time of payment, without the need to enact new laws.