9 hours ago
17
Tolosa becomes the first European city to allow payment for public transportation in cryptocurrencies. Starting this Monday, travelers of the Tisséo metro will be able to purchase tickets using Bitcoin, Ethereum, XRP, Solana, and USDT. This innovation represents a significant step forward in the integration of financial technologies into public services.
Tolosa: a city at the forefront of cryptocurrency payments
In recent years, Toulouse has stood out for its openness to new payment technologies. After introducing credit card payments on buses in 2023, the city’s transport system is now taking a further step by accepting cryptocurrencies.
This initiative, promoted by Tisséo, aims to modernize and expand the payment options available for citizens and tourists. According to Sacha Briand, finance assessor of the Métropole and responsible for Tisséo, this decision responds to the evolution of the market and the growing adoption of cryptocurrencies by the population.
The growth of cryptocurrency use in France
The use of cryptocurrencies is constantly increasing. According to the data cited by Sacha Briand, about 10% of the French population owns a cryptocurrency wallet, and this percentage could double quickly. According to the councilor, more and more people are using payment cards linked to their crypto wallets to make daily purchases.
Even financial giants like VISA and Mastercard are developing solutions based on cryptocurrencies, a sign that the sector is gaining increasing relevance in traditional payment circuits.
The cryptocurrency payment system in the Toulouse metro
Although Toulouse has adopted cryptocurrencies, Tisséo will not directly receive these digital assets, but will use an integrated payment module that will automatically convert Bitcoin and other crypto into euros at the time of the transaction. This system will ensure fast, secure, and compliant transactions with financial regulations.
The adoption of this payment method could have a significant impact. Approximately 200 million ticket validations are recorded each year in the city’s transportation system, involving an average of 250,000 passengers per day. If only 10% of users will use cryptocurrencies, it is estimated that between 20,000 and 25,000 people could benefit from this option.
A strategic choice for a technologically advanced city
Toulouse is a city with a strong presence of students and young workers, a category particularly open to the use of new technologies. This could encourage the adoption of cryptocurrency payments, making Toulouse a reference point in financial innovation in the public transport sector in Europe.
“We have always closely followed the evolution of technology, like when we introduced 4G connectivity in the metro”,
explained Sacha Briand.
The adoption of cryptocurrency payments follows the same philosophy, fitting into the innovative initiatives that characterize the city.
What could be the future developments?
If this experimental phase yields good results, payment in cryptocurrencies could also expand to other public services. However, this decision will require further evaluations, as the administrative procedures for the adoption of cryptocurrencies in public services are complex.
Despite the enthusiasm around this innovation, it is important to remember that cryptocurrencies remain highly volatile assets. Their value can fluctuate rapidly due to speculation and market movements. This represents a risk for users, who must be aware of the possible value fluctuations at the time of payment.
Conclusions
The introduction of cryptocurrency payments in Toulouse’s public transportation represents an important step forward in the evolution of urban financial systems. This initiative could not only facilitate payments for citizens and tourists but also pave the way for other European cities ready to modernize their services. If the project proves effective, the future of public transportation could see an increasingly widespread integration of digital currencies.
English (US) ·