Miami Votes to Get Over $5 Million from MiamiCoin Cryptocurrency CityCoin, the city-based token, announced that MiamiCoin generated $4.5 million in 40 days with "much more to come."

By Emily Rella

Opinions expressed by Entrepreneur contributors are their own.

Randy Faris | Getty Images

On Monday, Miami's city commission voted to access about $5 million worth of MiamiCoin, a cryptocurrency unique to the city.

Mayor Francis Suarez shared the news on Twitter, writing, "The @CityofMiami decision to accept the gift contributions generated by the @mineCityCoins Protocol-currently valued at $4.3M-represents a major milestone in Miami's quest to become a crypto innovation hub."

She added, "Funds that will directly impact the lives of all our residents!"

Related: CityCoins Announces Launch of MiamiCoin With First Exchange Confirmed

CityCoin, the city-based token, announced that MiamiCoin generated $4.5 million in 40 days with "much more to come."

For every MiamiCoin that people mine using Stacks (which has its own token), Miami gets funding. Elected leadership can use that funding "for a number of projects to benefit the city," according to a CityCoin release.

Mayor Suarez and the commission have proposed that the funds can be used for programs to mitigate the potential risks of climate change, new initiatives for under-privileged communities and crypto education and incentives for tech entrepreneurs, among other things.

"Protocol contributions will continue to replenish and grow as the MiamiCoin protocol gets more usage. Contributions are initially denominated in STX tokens, but will be auto-converted to USD when the city accesses its wallet—ensuring funds are legally compliant and available for immediate, real-world deployment," said CityCoin.

Emily Rella

Senior News Writer

Emily Rella is a Senior News Writer at Entrepreneur.com. Previously, she was an editor at Verizon Media. Her coverage spans features, business, lifestyle, tech, entertainment, and lifestyle. She is a 2015 graduate of Boston College and a Ridgefield, CT native. Find her on Twitter at @EmilyKRella.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Side Hustle

This Couple Started a Side Hustle to Improve a 'Terribly Made' Bathroom Essential. Now the Business Earns More Than $3 Million a Year.

Michael Fine and Lisa Schulner-Fine launched lifestyle brand Quiet Town in 2016 and have been growing it ever since.

Business News

What's Open on Easter Sunday? Costco and Target Will Close, But One Major Retailer Will Be Open. Here's What To Know.

The stock market was closed for Good Friday on April 18. Here's what's closed for Easter Sunday, April 20.

Marketing

The One Mistake Is Putting Your Brand Reputation at Risk — and Most Startups Still Make It

Many businesses pour resources into branding and marketing but overlook PR — yet it's PR that builds the trust, credibility, and reputation that turn attention into lasting revenue in a crowded market.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Leadership

Here's What It Takes to Evolve From Hands-On Founder to Strategic CEO

Making the leap from founder to CEO requires more than just growth — it demands a shift in mindset.

Marketing

If You're Using ChatGPT This Way as a Marketer, You're Missing Out on Its Full Potential. Here's How to Maximize Your Results.

The real value of AI isn't in what you ask — it's in how you shape the conversation. Mastering prompt interactions means better content, sharper thinking and fewer generic outputs.