The real estate investors who are on the lookout for new properties can now make their purchases in the form of cryptocurrencies. The option has been made possible by the largest real estate dealer in Brazil called Gafisa.
The market speculators are suggesting that among the various types of cryptocurrency payment options available at Gafisa, Bitcoin is the most feasible and popular.
The main reason that is prompting more real estate buyers and sellers to opt for cryptocurrency payments is the removal of middlemen. Traditionally, real estate agents or agencies charge a hefty commission fee for introducing the buyers and sellers to a particular deal.
However, with the presence of cryptocurrencies, the concerned parties can conduct a peer-to-peer transaction and remove the hassle of involving money exchange services or other mediators.
Gafisa Partners with a Crypto Exchange to Make Crypto Payments Possible
A recent press release by Gafisa postulated that the real estate giant of Brazil wants to introduce innovation in the property and financial payments system.
The company has plans to expand its current market exposure by providing the real estate investors with a chance to acquire new properties by using their digital currency reserves.
The press release also shared the details about the recent partnership with another important venture. To make the digital currency transition, Gafisa is partnering with a local cryptocurrency exchange called Foxbit.
Guilherme Augusto Soares Benevides is the CEO of Gafisa, who told the media that venturing into the cryptocurrency markets is a part of the expansion plans of the organization.
Chainalysis data suggests that Brazil holds 6th rank in terms of value transferred by blockchain. It is worth noting that the Central Bank of Brazil is yet to recognize cryptocurrencies as an asset class.
However, the integration of cryptocurrencies among big commercial entities is the major driving force behind mass adoption. In the words of Benevides, Bitcoin is the top and highest valued cryptocurrency in the market, and it keeps gaining more popularity worldwide.
Despite the flying endorsements for Bitcoin, Gafisa has listed a host of other cryptocurrencies as an acceptable mode of payment.
Some other options include Ethereum, Solana, XRP, ADA, and a randomly assorted pool of 16 other digital coins. When making a crypto payment, the application by the buyer is going to be checked and verified by Gafisa consultants before allowing a crypto wallet transaction.