Panama City – June 1, 2025:
Panama is making bold strides toward becoming a global Bitcoin hub, with a series of landmark announcements made by Mayer Mizrachi, Mayor of Panama City, during the Bitcoin 2025 conference. The country is set to blend its traditional banking infrastructure with a forward-thinking bitcoin-based financial system, marking a significant shift in national policy direction.
Among the most notable announcements was the confirmation that Caja de Ahorros, Panama’s second-largest bank, will soon offer bitcoin-based savings accounts. According to Mizrachi, this move will simplify the digital currency experience for everyday users by enabling seamless bitcoin custody and dollar transactions.
“Now, the second-largest national bank, which is present tonight, Caja de Ahorros, is going to open Bitcoin accounts that can easily transact in dollars,” Mizrachi stated at the conference.
This comes on the heels of an earlier agreement with Tower Bank, which integrated cryptocurrency payments for the Panamanian municipality, including point-of-sale (POS) terminals that accept bitcoin.
Bitcoin Payments for Panama Canal
Pushing the envelope even further, Mizrachi floated the idea of accepting bitcoin for Panama Canal payments, a revolutionary concept for global shipping. He hinted that companies paying in bitcoin could enjoy expedited services or additional perks.
“What if you get a perk for paying in Bitcoin — get your ship to go quicker if you pay in Bitcoin?” he proposed.
Mizrachi highlighted Panama’s growing, yet largely hidden, role in the crypto economy, estimating that over $5 billion in bitcoin transactions take place annually in the country “behind closed doors.”
Strategic Bitcoin Reserve and Mining Plans
In a broader vision for Panama’s crypto future, Mizrachi has also hinted at the creation of a municipal bitcoin reserve and the utilization of national energy resources for bitcoin mining — moves that would place Panama among the few countries actively incorporating Bitcoin into national economic policy.
Regulatory Landscape Still Uncertain
Despite the rapid developments, Panama still faces regulatory uncertainty. A 2022 bill aimed at establishing a clear legal framework for cryptocurrency was vetoed by then-President Laurentino Cortizo. However, momentum is building once again, with Substitute Representative Gabriel Solis introducing a new bill to provide legal clarity for crypto companies operating within Panama.
As Panama pushes forward, the combination of institutional integration, progressive municipal leadership, and strategic infrastructure initiatives could position the country as a leader in the global crypto economy.