Richmond Hill, Ontario is taking a page from Innisfil, Ontario and will now provide the option for residents to pay for property taxes with cryptocurrency.
After a recent council approval on July 10th, the city has partnered with Toronto’s Coinberry, a digital currency platform and the same company that partnered with Innisfil.
The company has begun negotiations with the city “to provide a robust cryptocurrency payment processing solution.”
“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.
“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 partnership will also have municipal staff that will report back on the “feasibility of implementing Coinberry’s technology for additional payments of other city fees and charges by September 30th, 2019.”
Andrei Poliakov, Coinberry’s CEO, said that he was incredibly happy to partner with another city in less than six months.
“Leaders of government and enterprise organizations are realizing that, with the right partners, they can innovate with blockchain and digital currencies,” he said. “We’re pleased to be working on additional innovative solutions with leading enterprise and municipal partners.”
The company is the only one that has partnered with Canadian municipalities.