The adoption and daily use of Bitcoin and cryptocurrencies continues to grow.
At this point, the latest news came from the United Arab Emirates.
RAK Properties, one of the largest publicly traded real estate companies in the United Arab Emirates (UAE), announced that it will begin accepting cryptocurrencies in international real estate transactions.
Accordingly, RAK Properties announced that it will officially support crypto payments such as Bitcoin (BTC), Ethereum (ETH) and Tether (USDT).
Cryptocurrencies used by customers for payments will be converted into UAE fiat currency before being deposited into RAK Properties.
RAK Properties said in a statement that it plans to increase accessibility and improve transaction convenience for global investors through the introduction of cryptocurrency payments.
“This move enables RAK Properties to attract a new generation of global buyers looking to invest in the rapidly growing property market.
Customers can now purchase their properties using major digital assets such as USDT, BTC, ETH and more.”
The UAE has recently become a major hub for the cryptocurrency industry, with clear regulatory frameworks and the absence of taxes on crypto profits fueling interest in digital assets.
*This is not investment advice.
