The city of Miami is preparing to launch its own cryptocurrency in order to attract more cryptocurrency investors and support the city with new projects. The City of Miami announced that it will launch its cryptocurrency today. Dubbed MiamiCoin, this cryptocurrency should make it easier for investors to earn income and support the city through critical infrastructure. According to CityCoins blog post, Miami will become the first city in the world to launch its own cryptocurrency. The idea behind this coin is that it will be used to finance infrastructure projects or events in the city. The locals are supposed to support the project by buying or mining the MiamiCoin, and the funds will be donated to the Miami Treasury. CityCoins is a project that allows people to invest in cities by buying tokens. The project works with local governments, ensuring that those who invest are rewarded with Bitcoins or Stacks. “MiamiCoin provides a stream of ongoing crypto revenue for the city, while generating STX and BTC yield for $MIA holders,” the blog post reads. Miami Mayor Francis Suarez has made no secret of his support for Bitcoin and the cryptocurrency market in general. He even invited Chinese miners to set up cryptocurrency mining operations in the city following the ban on cryptocurrency mining activities in China. The mayor said the move is positive for Miami as the city has become the bitcoin capital of the world. “ The city of Miami could end up making millions of dollars from the popularity of MiamiCoin because obviously Miami has now become, and we’ve talked about it many times on your show, the bitcoin capital of the world,” he said. Mayor Suarez added that Miami is looking to differentiate its economy by creating a new wave of tech products that will entice people to move to the city and become part of the tech ecosystem. The post Crypto -Miami currency, MiamiCoin, will be launched today appeared first on Buy Bitcoin.