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Priyanka Jadhav
Mar 28, 2022
by Priyanka Jadhav

Binance To Open Office in Rio, tweets CZ Zhao

Binance Rio de Janeiro
Advocating for the cause led by Mayor Eduardo Paes, the world’s largest crypto exchange Binance has announced a new office in the Brazilian city, Rio de Janeiro. 

Rio Embraces the Cryptocurrency Market

The Brazilian city with a 6.8 million population announced over the weekend that with the adoption of cryptocurrency, residents of Rio will be allowed to pay the IPTU tax, a real estate tax, via Bitcoin by 2023. 

The tax was announced by Chicão Bulhões, the Secretary of Economic Development Innovation and Simplification. The pro-crypto tax makes Rio the first Brazilian city to make Bitcoin (BTC) payments mainstream.

Binance In Agreement With Rio

In regards to Binance’s future stance towards cryptocurrency in Brazil, the Chief Executive Officer of the leading multinational crypto firm, Changpeng ‘CZ’ Zhao took to Twitter. 

The tweet stated that the “handshake deal” made between Binance and Rio has been formalized. In addition, Binance CEO will also be opening a new office in Rio de Janeiro. Earlier this month, Zhao also announced Binance’s plans on acquiring Brazilian banks as well. 

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Binance To Open Office in Rio, tweets CZ Zhao
Priyanka Jadhav
Priyanka is an active crypto enthusiast. Having graduated with a BA in Journalism and Mass Communication, she is a passionate content writer with a strong understanding of financial content. She has been writing on crypto and blockchain-related topics for the last three years and is an active trader.

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