The tech-driven real estate company will now allow its clients to pay using bitcoin, ethereum, and other top cryptocurrencies with the help of Huobi exchange. The firm noted that this collaboration would help bring stability and improve liquidity in the market.
“Cryptocurrencies are becoming an increasingly popular method.”
CEO of fäm Properties, Fera Al Msaddi, said that the cryptocurrencies are increasingly becoming a popular payment method, across all world-class cities. He added that this added choice would increase their property transactions and bring more value to the real estate market in Dubai. The firm further mentioned that the new partnership would also make it easier for clients to invest in prime locations in the UAE.
Huobi has offices in Hong Kong, Japan and UAE.
Huobi is a Singapore-based crypto exchange that has offices in Hong Kong, Japan, UAE, and the United States. Mohit Davar, the co-founder of Huobi OTC at Dubai Multi-Commodities Center (DMCC), said they have the liquidity and resources to facilitate crypto payments of customers who want to invest in UAE real estate. He added that if someone wants to buy a property and use crypto as payment, then they will help facilitate the transaction and sell their cryptocurrency and make the payment to fäm in fiat currency.