NYC is getting its own city coin in line with the incoming mayor's crypto hub vision [View all]
Source: Business Insider
New York City is about to get its own digital token in line with the vision of Mayor-Elect Eric Adams to transform the Big Apple into a cryptocurrency hub.
The coin is called NYCCoin and is being launched by CityCoins, a civic-minded community and open-source protocol that gives investors an avenue to support their cities by expanding their crypto treasury while earning for themselves. When bought or mined, it allocates 30% of its reward to the city.
NYCCoin's launch follows close behind MiamiCoin, which to date has earned more than $21.3 million for the city of Miami since its August 2020 launch, the community said.
While Austin, Texas was a close contender, the community eventually chose New York, propelled by the incoming mayor's pro-crypto stance, Patrick Stanley, a CityCoins community lead, told Insider.
Read more: https://markets.businessinsider.com/news/currencies/nyc-city-coin-stacks-adams-bitcoin-miami-cryptocurrency-new-york-2021-11
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