The Principality of Liechtenstein now accepts cryptocurrencies such as $EGLD, BTC and ETH to pay for various government services. This initiative, implemented in partnership with xMoney, represents a significant step towards integrating modern payment methods into public administration. The move allows citizens to use cryptocurrencies for transactions traditionally dominated by fiat currencies, such as paying for business licenses, registering trademarks and obtaining extracts from business and family registries.
The introduction of digital currencies aims to reduce the complexity and costs associated with conventional transaction fees and exchange rates. The introduction of cryptocurrency payments in Liechtenstein’s public services is part of a wider trend of using blockchain technology for more efficient and transparent financial transactions.
The technology enabling this transition, primarily through MultiversX, is part of a broader movement to bring blockchain technology to various sectors. However, it is important to note that despite this progressive move, the market reaction to MultiversX has been relatively muted, with the price up just 4% in the last 24 hours.
Image: The Merkle News
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