Dubai property firm partners with Huobi to accept cryptocurrency payments
March 18, 2020 - United Arab Emirates
Fäm Properties has tied up with a digital assets trading provider to facilitate cryptocurrency transactions of investors looking to acquire and sell real estate in the UAE.
The brokerage firm has commissioned Huobi OTC at Dubai Multi-Commodities Centre which is part of Huobi Group, a Singapore-based company to offer secure options for real estate investors who want to use virtual money, such as Bitcoin, Ethereum, Ripple and other top cryptocurrencies including stable coins, when investing in the UAE.
The new partnership will provide clients “ease of investing” in prime locations in the UAE, the property firm said in a statement.
According to AMEinfo, Huobi’s OTC desk also supports fiat currencies including UAE dirhams, United States dollars, euros and British pounds.
Late last year, Ellington Properties said its customers can now acquire properties in Dubai using Bitcoin.
The developers of Aston Plaza and Residences in Dubai also reported in 2018 that they managed to sell 50 out of the 1,300 flats in Bitcoin.
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