In a groundbreaking move, the historic Spanish city of Torrevieja, boasting a rich 221-year history, is embracing the world of cryptocurrencies. The local businesses in Torrevieja, situated in Alicante, Spain, are set to pioneer the acceptance of digital assets through the innovative Bitnovo Pay gateway.
Torrevieja envisions transforming itself into a key geographical hub where Bitcoin (BTC) and various cryptocurrencies gain widespread acceptance. Municipal authorities have given their nod to businesses to adopt crypto assets as part of a digital transformation initiative championed by the Commerce Council of the Torrevieja City Council. This forward-looking project has garnered support from the renowned Spanish cryptocurrency exchange Bitnovo.
This strategic endeavor is viewed as a “technological evolution” that holds the potential to invigorate investment and tourism in the municipality by facilitating cryptocurrency payments within local establishments.
Juan Frers Allan, a legal expert and member of Bitnovo’s communications team, shared insights with CriptoNoticias about the Torrevieja venture. He highlighted the anticipation of businesses utilizing Bitcoin and a diverse array of 15 other cryptocurrencies, including Ether (ETH) and stablecoins like USD Tether (USDT), USD Coin (USDC), and Euro Coin (EUROC).
The project unfolds in three distinctive phases. The initial phase encompasses the launch of the initiative, showcasing practical use cases, and providing comprehensive training. Simultaneously, the integration of the initial set of businesses ready to embrace cryptocurrencies as a means of payment is set into motion.
Moving into the second phase, the project aims to make a positive environmental impact by emphasizing sustainability and the restoration of natural spaces. The third and final phase is dedicated to fostering employment opportunities and nurturing entrepreneurship within the city.
Rosario Martínez Chazarra, the Commerce Councilor of Torrevieja, expressed optimism, stating that the project “will modernize and revitalize local businesses, providing an additional incentive for cryptocurrency holders.”
Frers Allan emphasized that Torrevieja residents have the flexibility to utilize any cryptocurrency wallet for payments, while merchants will seamlessly integrate the Bitnovo Pay payment gateway. This innovative solution allows both physical and online stores to accept cryptocurrencies as payment, with the funds being directly deposited in euros into their bank accounts.
Underlining the credibility of the Bitnovo Pay solution, regulated by the Bank of Spain, Frers Allan assured a smooth payment experience for businesses, opening the door to a vast global user base and increased sales opportunities.
The Torrevieja community has exhibited a burgeoning interest in the cryptocurrency initiative, with hundreds of inquiries pouring in, coupled with strong support from city authorities, businesses, and organizations like the Association of Small and Medium-sized Merchants of Torrevieja (Apymeco).
Frers Allan expressed confidence in the project’s success, stating, “We are constructing something truly significant, and the groundwork is solid. People are intrigued, and with time, we anticipate natural and frictionless adoption.”
Distinguishing itself from other cities embracing cryptocurrencies, Torrevieja takes pride in drawing inspiration “distinctly” from its residents. Frers Allan emphasized, “This unique perspective aligns with the reality we aim to achieve. We understand the city, its people, and businesses intimately, guiding us in implementing this transformative journey.”
