Rio de Janeiro Set to Become Brazil’s Crypto Hotspot

Rio de Janeiro Set to Become Brazil’s Crypto Hotspot

Cryptocurrency is the new buzzword that has taken the trading and business world by storm. The global crypto ecosystem is not just growing by leaps and bounds, it might, in fact, even be well on its way to overtaking other prominent industries.

While Bitcoin really launched the concept of cryptocurrency into even the layman's grasp, the cryptocurrencies have also seen a considerable increase in types ever since the world really got a grasp of the concept. Trading in cryptocurrencies like Litecoin, Zcash, and XLM is fairly accessible now that the concept of crypto mining and trading is gaining traction around the world. 

The global cryptocurrency scene might have taken a hit in recent weeks, but such ups and downs are a part of any industry. In fact, cryptocurrency is still a very nascent niche in the world of trading and business, and all we can expect of it at this point is phenomenal growth and development.

Naturally, countries across the world aspiring for economic growth are slowly on their way to building a firm crypto trade foundation. Certain cities are all set to develop themselves into crypto centres of the world in terms of trading and mining. As with any industry, however, this requires careful planning and execution to come to fruition.

Brazil's new Crypto hotspot

Like many other countries that would fall into this bracket, Brazil also has its eyes set on developing a firm trading and minting base. And in this case, the city that is progressing fast towards claiming the spot as the country's number one crypto hotspot is Rio de Janeiro. Spearheading the cryptocurrency revolution in Brazil is certainly no mean feat!

Rio de Janeiro, already known as the tourism hotbed of Brazil, is also the capital city where the majority of the developmental hustle and bustle happens. Naturally, it is barely a surprise that Andrea Sanko, the Municipal Secretary of Finance and Planning of Rio de Janeiro has gone on record about the city government's intention to propel the city's cryptocurrency market development, as reported in the Boletim Bitcoin on July 5. 

She has mentioned the city's progressive spirit and its tendency to keep up with the "technological and economic advances" as the chief driving force behind its development into the "crypto ecosystem of Brazil". Ultimately, Sanko states that the goal is to ride the cryptocurrency tide and lead the country to a revolutionary degree of technological and economic prosperity.

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