Cebu City Vice Mayor Raymond Alvin Garcia. | file photo
In a statement on Thursday, August 11, 2022, Cebu City Vice Mayor Raymond Alvin Garcia said he recently met with an Electronic Money Issuer to discuss integrating the company’s technology for real property and business tax payments in the City government. Garcia, who also served as the City’s Local Finance Committee head before becoming vice mayor, said the current administration is committed to looking for “best arrangements” for its constituents.
Garcia noticed that some transactions in City Hall involved people abroad who already have ready access to cryptocurrency and prefer this system over online banks.In the same statement, Charlie Seo, C Pass Inc treasurer, said once the third stage is complete, they will begin to issue its stablecoin C Peso and launch its app-based and web-based electronic wallet, which will enable users “to purchase, send, receive, and swap crypto-currency and fiat money.