The City of Richmond Hill is in negotiations with Canadian digital currency platform Coinberry about potentially accepting Bitcoin for property tax payments.
Earlier this month, the City Council voted in favor of entering into an agreement with Coinberry, to provide an option for property tax payment in Bitcoin for residents and businesses of the City of Richmond Hill.
It is the second agreement that Coinberry has reached with a Canadian municipality this year, the other was with Innisfil.
"We believe that the demand for a digital currency payment option is only going to grow in the coming years, especially amongst millennials", said Richmond Hill Deputy Mayor Joe Di Paola who moved the motion. "Our Council was aware of Coinberry's successful implementation of a digital currency payment service with the Town of Innisfil, and since there was no cost and no risk to the City of Richmond Hill to do the same, it made the decision that much easier for us."
The new partnership also gives the City of Richmond Hill the opportunity to leverage Coinberry’s technology for other blockchain and digital currency payments and services.
“We are very happy to be entering into a partnership with our second Canadian Municipality,” said Andrei Poliakov, Coinberry CEO and Co-Founder. “Leaders of government and enterprise organizations are realizing that, with the right partners, they can innovate with blockchain and digital currencies. We’re pleased to be working on additional innovative solutions with leading enterprise and municipal partners, and have a number of very exciting initiatives we will be announcing over the next several months.”