Crypto News

The oldest bank in Brazil has activated the payment of taxes with digital currencies

Banco do Brasil (Banco do Brasil), the largest and oldest bank in Brazil, has made it possible for its customers to pay taxes using cryptocurrencies.

According to Valex and quoted by The Block, Banco de Brazil in collaboration with the Bitfy startup has made it possible for its users to easily convert their cryptocurrencies into local currency through the bank’s application. Pay your taxes with it.

BitFi CEO Lucas Schoch added in a statement with the Brazilian bank:

This cooperation makes it possible to expand the use and access to the digital currency ecosystem with a national coverage.

Brazil is a leading country in the field of payments. This country has an instant payment system called “PIX” and has previously legalized payments using cryptocurrencies.

Brazil’s central bank is testing its own national digital currency. It is expected that this currency will be minted and released next year.

The post Brazil’s Oldest Bank Enables Tax Payments with Digital Currencies appeared first on Wallex Blog. appeared.


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