China News by Thebittimes.Com

Per the official announcement , the partnership will help Binance users leverage the Binance Pay app to carry out crypto transactions with more than 40 supported digital currencies. As a mutually beneficial partnership, clients of Alchemy Pay will also gain additional exposure to Crypto payments through the Binance Pay, a move that takes crypto directly to the former’s global partners including Shopify. advertisement Other global clients that will benefit directly from the partnership include QFPay, Hong Kong’s Pricerite, Singapore’s Ce La Vi, Canadian footwear brand Aldo, multinational Arcadier SaaS, Midwest Global Asia taxi services (with its network of more than 2500 limousine drivers) and more. The superiority in blockchain payment networks which guarantees faster speed, cheaper and more secure transactions has been a focal point for the emergence of new payment solutions over time. Binance Pay was floated to provide a worthy challenge to ex...

Join Our Telegram channel to stay up to date on breaking news coverage The crypto industry is getting rapidly adopted throughout South America, with multiple nations exploring different ways to adopt it and apply it. Some have reached further stages than others, and in some places, there are isolated moves to adopt crypto in one way or another on a local level. For example, in Brazil, Rio de Janeiro just decided to publish a decree on October 11th, revealing that it will now allow its citizens to pay property tax with digital currencies . The city’s government is now seeking crypto companies that would make it possible starting in 2023. Crypto will be accepted alongside fiat currencies — meaning that crypto payments will not replace traditional money. But, the move is still important as it makes Rio the first city in Brazil to accept digital assets as an official form of payment for property taxes. So far, it is not known which coin(s) will be accepted, although i...

Source: Quatrox Production/ Adobe The Brazilian city of Rio de Janeiro will let its crypto-holding residents use their coins to pay their property tax bills from next year. Globo reported that the city hall has published a decree in its Municipal Gazette that states that Rio will “hire companies specialized in carrying out the conversion of cryptoassets into [fiat]” to let Rio residents pay a property tax known as the IPTU (the Urban Building and Land Tax). In Brazil, IPTU payments on a piece of real estate are determined by calculating its market value. All municipalities in the nation charge their residents this tax, which generates money for state governments. Taxpayers can either pay all their IPTU obligations in one annual lump sum or pay in monthly installments. The city government explained that its deals with crypto firms would allow “the municipality to receive 100% of the value” of crypto payments in fiat, without incurring “...