Damac Properties a leading Real estate developer announced that it would accept cryptocurrencies Bitcoin and Ethereum for property selling.
Damac says the purchase of property through cryptocurrency will revolutionise the future of real estate. it will also provide convenience and optionality to real estate investors around the globe.
customers holding cryptocurrency have a good option and this is great for the new economy for newer generations, and for the future of our industry.
The adoption of cryptocurrencies is increasing at an exponential rate in the UAE. Recently, a Dubai-based announced Bake N More and delivery startup YallaMarket announced that would accept cryptocurrencies as mode of payment.
The UAE’s determination to develop the crypto industry has attracted large companies recently. Major crypto exchanges are shifting their base to Dubai following the Government’s decision to issue virtual asset licenses under the Dubai Virtual Assets Regulatory Authority.
Dubai is heading towards becoming a crypto hub. The Emirate is also promoting other virtual assets with crypto-friendly regulations.
Now purchasing property by using cryptocurrency which was a dream is now possible in Dubai.