The future of real estate has arrived, as Nakheel has announced that you can now pay your rent and even buy real estate using cryptocurrency. Rent, service fees, or even picking up your new property can all be paid for using cryptocurrency thanks to Nakheel’s relationship with Hayvn, a worldwide institutional digital currency platform.
“Cryptocurrency is a $1.8 trillion asset class. When you open up a market to investors who together comprise $1.8 trillion, then you are going to see some investors switch out of crypto and into UAE real estate,” says Christopher Flinos, Hayvn’s CEO. “This is the biggest change to UAE real estate since the Palm Jumeirah was announced. To be working with Nakheel, the original pioneer of Dubai real estate demonstrates the value of our ADGM regulated status.”
Following the Nakheel developers, Binghatti Developers will accept Bitcoin and Ethereum for property payments. The company went for Bitcoin and Ethereum as their payment mode because “these are the most widely accepted and we’ll see later whether to expand and add more cryptos,” said Binghatti. According to Muhammad Binghatti, CEO of Binghatti Developers, Bitcoin and Ethereum will be accepted as payment for existing and prospective projects starting in mid-June.
The company intends to safeguard its consumers by employing a unique payment procedure that will keep it safe from market swings. The payment URL that will be emailed to clients will be refreshed every ten seconds, according to the CEO. This will strengthen security on both sides and ensure that payments are made to Binghatti Developers as soon as possible.