Panama City is making waves in the fintech world with a bold proposal: ships could soon pay their Panama Canal transit fees in Bitcoin to secure priority passage. Mayor Mayer Mizrachi unveiled this idea at the Bitcoin 2025 conference in Las Vegas, suggesting that cryptocurrency payments could offer cargo ships a faster route through one of the world’s most vital trade arteries 1 2 3.
How Would Bitcoin Change Canal Operations?
The Panama Canal is a linchpin of global commerce, handling about 5% of all maritime trade and generating nearly $5 billion in annual revenue 1 4. By allowing Bitcoin payments, the city aims to streamline transactions and make the canal more competitive on the international stage. Ships paying in Bitcoin could “cut the line,” receiving expedited service compared to those using traditional payment methods 1 2 3.
Mayor Mizrachi believes this move could position Panama as a leader in digital finance and technology, integrating crypto deeper into the national economy. He also floated the idea of establishing a Bitcoin reserve for Panama City, inspired by El Salvador’s pioneering crypto policies 2 4.
Crypto in Public Services: Panama City’s Broader Vision
This isn’t Panama City’s first foray into crypto. Under Mizrachi’s leadership, the city has already approved measures allowing residents to pay municipal taxes, fines, and permits using Bitcoin, Ethereum, and select stablecoins. To comply with regulations, these payments are instantly converted to U.S. dollars, ensuring public institutions receive fiat currency without directly handling digital assets 2.
Unlike El Salvador’s nationwide Bitcoin legal tender law, Panama City’s approach is optional and designed to work alongside the existing financial system, making it accessible for both crypto enthusiasts and traditional users 2.
National Context: Panama’s Evolving Crypto Policy
While Panama City pushes forward, the national government has taken a more cautious approach. In 2022, a proposed crypto bill was stalled over concerns about anti-money laundering compliance. However, recent developments show a shift: a new draft bill introduced in March 2025 aims to regulate digital assets, enforce licensing, and align with international standards, while also encouraging blockchain use in public services.
What’s Next for the Panama Canal and Crypto?
The Panama Canal Authority has yet to formally respond to the Bitcoin payment proposal 4. However, the idea is already sparking global interest, especially as the canal faces geopolitical scrutiny and competition. If implemented, Bitcoin payments could not only speed up shipping but also signal Panama’s commitment to fintech innovation and digital transformation 1 5.
“What if you get a perk for paying in Bitcoin, get your ship to go quicker if you pay in Bitcoin?” — Mayor Mayer Mizrachi
As the world watches, Panama City’s experiment could set a new standard for how digital currencies intersect with global infrastructure and trade.
Related Links
• Panama City Mayor proposes Bitcoin payments for priority access through Panama Canal
• Panama City Explores Bitcoin Payment Initiatives Inspired by El Salvador
• Bitcoin’s Role in Revolutionising Marine Services – Fintech Review
