By Alimat Aliyeva
RAK Properties, a number one developer in the UAE, has launched a
new service that permits property consumers to buy real estate in
Ras Al Khaimah utilizing cryptocurrency. This strategic transfer comes as
a part of a brand new partnership with digital cost platform Hubpay,
Azernews reviews.
Whereas funds can be made in cryptocurrency, transactions
received’t be processed instantly in digital belongings. As an alternative, all crypto
funds can be robotically transformed into UAE dirhams via
Hubpay earlier than being credited to the developer’s account. This
strategy ensures regulatory compliance whereas providing flexibility
to tech-savvy buyers.
Presently, RAK Properties accepts Bitcoin, Ethereum, USDT, and
a number of different cryptocurrencies, although the whole listing of
supported belongings has not but been disclosed.
Hubpay is a licensed entity registered with the Digital Asset
Regulatory Authority (VARA) and operates underneath the supervision of
the Abu Dhabi World Market (ADGM). These regulatory frameworks
present a safe and clear atmosphere for digital asset
transactions.
In accordance with Rahul Joghani, Chief Monetary Officer at RAK
Properties, the brand new service will make real estate
investments—significantly in the premium Mina Al Arab space—extra
accessible and handy for worldwide consumers.
“Supporting digital belongings helps us appeal to tech-savvy buyers
and enhances RAK Properties’ picture as a forward-thinking and
reliable developer,” Joghani said.
The initiative is absolutely aligned with Ras Al Khaimah’s Imaginative and prescient
2030 technique, which promotes the adoption of blockchain
applied sciences and digital belongings as a part of the emirate’s broader
financial transformation.
Curiously, this isn’t the primary time the UAE has embraced
crypto in real estate. A number of builders in Dubai and Abu Dhabi
have launched comparable initiatives, signaling a broader development towards
integrating digital finance into the nation’s real estate sector.
Because the UAE positions itself as a hub for innovation and fintech,
Ras Al Khaimah is rapidly rising as a key participant in this
transformation.
