Starting on August 4, 2021, Miami will use the city’s own digital currency, MiamiCoin. The authorities planned to finance events and infrastructure projects with this crypto-asset.
Miami’s cryptocurrency is developed in the CityCoin ecosystem. This project was created to raise money for city funding. MiamiCoin owners will be rewarded in Bitcoin for stacking tokens. The release of the city’s cryptocurrency has been confirmed by the head of Stacks, which is Miami’s technical partner.
Miami Mayor Francis Suarez recently suggested that issuing tokens to the city would raise millions of dollars in investment. In early 2021, the official announced his intention to invest Miami’s reserves in bitcoins.