Singapore based crypto exchange firm Huobi has partnered real estate investors in the United Arab Emirates. Huobi partnered UAE real estate investors to enable them to pay in cryptocurrencies. The partnership was with fäm Properties, a tech-driven real estate agency.
Reportedly, the partnership allows fäm properties to accept payment in crypto and also allows stability and liquidity in the real estate market. The partnership will also simplify investing in the UAE and provide the market with more value.
This partnership will provide our clients with immense opportunities. Cryptocurrencies are becoming an increasingly popular payment method, across all world-class cities, and this added choice will increase our property transactions and bring more value to the real estate market here CEO, fäm Properties, Feras Al Msaddi said.
Co-founder at Huobi OTC, Mohit Davar, however, said their firm will provide liquidity and resources to enhance digital money payment to investors. If someone wants to buy a property and use crypto as a payment currency, then we will help facilitate that transaction and sell their cryptocurrency and make the payment to fäm in fiat currency Mohit sad.
The real estate market in Dubai has however been embracing new technologies like blockchain and other digital assets.
Reportedly, Dubai’s real estate giant, Emaar properties that developed the world’s tallest building, Burj Khalifa, released its new blockchain token referral and loyalty platform. The company has also expressed interest in launching a token and hold an initial coin offering in Europe.
It can only be overemphasized that since the invention of Bitcoin and other cryptos alongside blockchain technology, the invention can only continue to be deployed to improve the quality of human life.
Blockchain technology now being adopted by the real estate industry in the UAE has been adopted by several other sectors of the society. From sports to medicine to Agriculture, several sectors are beginning to optimize the technology.
Huobi alongside fäm Properties partnership is regarded as an interesting development as the crypto world watches out how things play with both firms.