The company plans to expand its portfolio with 12 new projects in 2025.
RAK Properties, a major real estate company in Ras Al Khaimah, UAE, will soon accept cryptocurrency for international property transactions. The company will begin accepting Bitcoin, Ether, and Tether (USDT) for real estate deals. The initiative comes as the UAE increasingly embraces digital assets in its economy.
RAK Properties will now accept Bitcoin (BTC) for property transactions. The company joins a growing list of businesses accepting crypto payments. Bitcoin has become a leading cryptocurrency for real estate investments globally. With this move, RAK Properties positions itself at the forefront of the evolving digital asset market.
Rahul Jogani, CFO of RAK Properties, expressed, “By enabling and supporting the use of digital assets, we are engaging with a new ecosystem of digitally savvy customers.” This move reflects the company’s strategic push to attract a younger, tech-savvy demographic. Bitcoin’s growing adoption in the real estate sector has encouraged companies like RAK Properties to explore crypto transactions.
RAK Properties will also accept Ether (ETH) alongside Bitcoin. Ether, the second-largest cryptocurrency by market capitalization, is gaining popularity in real estate transactions. As part of the new initiative, the company will also accept Tether (USDT), a stablecoin pegged to the US dollar.
The introduction of these cryptocurrencies underscores the growing importance of blockchain technology in real estate. With its stable value, Tether offers a secure way for international buyers to make transactions. RAK Properties’ decision signals a broader trend of increasing crypto adoption in various sectors across the UAE.
Hubpay, a regional payments platform, will process crypto transactions for RAK Properties. Hubpay will convert digital assets into the UAE dirham before depositing them into RAK’s accounts. This ensures smooth conversion and minimizes exchange rate risks for buyers and sellers alike.
Hubpay’s role in processing crypto payments further highlights the growing infrastructure supporting digital currencies in the UAE. The integration of Hubpay’s services ensures efficient and secure transactions for real estate deals. This collaboration marks a key milestone for both RAK Properties and the UAE’s broader cryptocurrency sector.
