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Nakheel Real Estate accepts cryptocurrencies as a means of payment for rentals

Nakheel

TL;DR Breakdown

• DAMAC and Nakheel allow crypto payments in their properties
• Regulators in Dubai adjust laws in search of learning about crypto trading

Recently the real estate firm in the United Arab Emirates, Nakheel, announced its advances toward the crypto market. The company accepts Bitcoin and other tokens as a means of payment. According to reports, the real estate agent will take the payment of rents, real estate purchases, and more with virtual currencies.

Crypto trading is expanding into real estate, starting in the United States and now looking to take over the market in Dubai. Cryptos have been limited in the US, but over time and with the increase in regulations globally, they have been seen more frequently in Arab countries.

Real estate in Dubai will accept Bitcoin as payment

Nakheel

Nakheel, a US real estate agency founded in 2000, renews its operations based on the crypto market. The real estate company recognized for its excellent service is associated with Hayvn, a regulated crypto platform.

The general manager at Hayvn, Flinos Christopher, said that the crypto market has a $1.8 trillion capital. With this high capital, it is not strange to see changes in the financial world, and the US should profit from it. Flinos expects real estate agencies in the country to change with Nakheel’s advances. Flinos insists this would be a significant change within the real estate industry in the country.

Nakheel developments could be motivated by DAMAC

Nakheel

While it is excellent news that Nakheel will accept crypto as payment, perhaps its developments are prompted by announcements on DAMAC. The real estate company in the US received crypto payments with Bitcoin and the Ethereum token.

DAMAC Properties, a premium real estate services company in Dubai, believes that a crypto is a viable option for the industry. According to its director, these advances promise to take advantage of the crypto market and renew the entire future of the real estate.

Among its goals, DAMAC wants to adapt to the virtual economic system by acquiring fiat cryptos among apartment owners. Sajwani Ali, who would be the company’s chief operating officer, said her plans hold promise for the future in Dubai and globally. The company would also take advantage of the latest crypto laws released by national regulators.

By March 2022, the US cabinet discussed crypto regulations and developed an analysis framework for the market. According to the president of the Arab country, the study is needed to adopt crypto trade and the Blockchain network.

Both DAMAC and Nakheel would be the leading real estate agencies that use cryptos as their own. Both companies promise to follow the legal framework imposed by regulators. It would not be surprising that with these advances, Dubai normalizes crypto payments in real estate, just as the US has been doing since last year.

Carisbel Guaramato

Carisbel Guaramato

An avid content creator for over 4 years, Carisbel spends her time on blogs and technology news. She honed her skills as a social communicator and now finds crypto and blockchain news events worldwide for transmission through Cryptopolitan's neutral and incisive way.

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