Brazil is the next country to accept crypto as Payment in Real Estate sector

A few weeks back we had discussed a piece of news from Dubai and it was for crypto acceptance in real estate. This was a big one and definitely an important milestone because if crypto is used for real estate then its going to increase the demand and usually the transaction value is high so this is even better for crypto. In the crypto space, trends are followed which means when one good thing happens then others follow the same and in the same pattern, there is another update related to real estate.

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In Brazil, Gafisa is a reputed and leading real estate company that has started accepting payments in cryptocurrency. They have started accepting the crypto for real estate transactions and they are using Foxbit crypto exchange for such transactions. This is another good news because now the real estate sector is trying to get involved in crypto and offering this convenient option to buyers to pay throuhg crypto. Gafisa as a company has been exploring and studying crypto since Feb 2021 and after over a year they have finally made it possible.

Dubai has started this good trend and now Brazil has also set an example by providing this option to buyers in real estate. This is a good start and highly expected that many other real estate developers from the same or different countries will start the same in the coming months. We need to understand such decisions are not taken overnight and it takes a lot of time for these companies to study and explore the possibilities so we can say that they have been doing it since and there are many others who must be doing the same. Many leading brands have announced crypto acceptance including Gucci, Tag, and even Emirates airline so this is a very good start for the crypto community.

Real estate transactions include a number of intermediaries facilitating them. These include banks, real estate agents, payment processors, and other parties. Bitcoin allows involved parties to remove some of these intermediaries.

Indeed in a real estate transaction, there are a few parties involved, and if with the involvement this can be minimized then this is a great move for sure. Gafisa will be accepting a couple of coins including Bitcoin, Cardano, XRP, and even Matic however this list will keep on increasing in the future depending on the feasibility and the demand by the buyers.

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This is another good example for the countries where crypto is still not given a green signal considering its not good or does not carry any value. Involvement of crypto in real estate itself proves that it has value and this value is the same as fiat so its something that is worth looking into this and taking the right decision at the right time.

Thanks fo reading.

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