Dubai’s DAMAC Properties to start accepting Bitcoin and Ethereum

One of Dubai’s largest luxury property developers, DAMAC Properties, will begin accepting cryptocurrencies. Clients will be able to pay with Bitcoin and Ethereum.

The future of real estate is set to be revolutionised! #DAMACProperties is one of the first developers to accept #Bitcoin and #Ethereum as a transactional medium for property purchases. This is a major boost for the digital economy!

To read more:https://t.co/j0AVJMPYMV pic.twitter.com/rVQe10Xhux

— DAMAC Properties (@DAMACOfficial) April 27, 2022

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According to a statement, the move is driven by a desire to use modern technologies to provide innovative solutions. The company believes that integrating cryptocurrencies as a payment option will broaden the pool of opportunities for investors.

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\”The transition to accepting cryptocurrencies from clients is one of our initiatives aimed at accelerating the development of a new economy for new generations and the future of our industry. … The offering of another way to conduct transactions is exciting, and we are pleased to recognise the value of this technology for our clients,\” said Ali Sajwani, Chief Operating Officer of DAMAC Properties.

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According to DAMAC Properties‘s own data, as of June 30, 2021, the company had delivered 39,400 properties, with another 28,000 under construction or in planning.

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Earlier this February, Kiss bassist Gene Simmons put a Las Vegas home for $13.5 million with the option to pay in digital assets.