According to reports, Coinbase is close to acquiring Brazil’s largest bitcoin exchange.
Following a year of discussions, Coinbase is said to be close to closing a deal to buy Brazil’s largest bitcoin exchange.
The major US-based cryptocurrency exchange – Coinbase – is close to acquiring 2TM, according to a local newspaper that did not reveal its sources.
The latter is a holding company that owns Mercado Bitcoin, Latin America’s largest crypto brokerage.
The conversations began last year, according to the article, and were part of Coinbase’s larger attempt to expand its operations. Officials from both companies have yet to comment on the matter as of this writing.
Surprisingly, the city of Rio De Janeiro, Brazil’s third-largest state, has been reported to accept bitcoin payments for taxes.
Changpeng Zhao, the CEO of Coinbase rival Binance, the world’s top exchange, had this to say about the situation:
I signed a handshake arrangement with Mayor Eduardo Paes nine days ago. Rio de Janeiro will accept cryptocurrency as a form of payment for taxes, and Binance will open a branch in the city. He’s fulfilled his obligation. We’re working on ours right now.