This German City Is Poised To Become A European Crypto Hub

A German city called Mannheim is set to become a leading European hub for cryptocurrencies. The city’s retail infrastructure is being transformed into a “Cryptocity” to showcase everyday uses of crypto for retailers and consumers. The initiative, led by payment blockchain Nimiq, has already seen 22 stores in Mannheim adopt cryptocurrency payments, including global brands like Footlocker and Burger King. Nimiq allows merchants to process digital currency payments while still receiving euros in their bank accounts, making it easier for companies to track tax obligations and avoid fluctuations in digital asset prices. The goal is to attract crypto-curious individuals from neighboring countries, where an estimated 20 to 30 million people own cryptocurrencies. The Cryptocity Mannheim project aims to integrate cryptocurrency with existing payment infrastructure and is partnered with paytech firm Nexi and barcode developer Bluecode. Similar cryptocity projects are also underway globally, highlighting the growing prominence of blockchain and crypto in various industries.