RAK Properties, a company in the UAE, will accept cryptocurrencies such as Bitcoin for real estate transactions

ChainCatcher news, according to Cointelegraph, one of the largest listed real estate companies in the Emirate of Ras Al Khaimah (UAE) ------ RAK Properties, will start accepting cryptocurrencies for international property transactions.

According to an announcement released on Monday, RAK Properties will begin accepting payments in cryptocurrencies such as Bitcoin, Ethereum, and USDT. Cryptocurrency transactions will be processed by the global payment platform Hubpay in the region. Hubpay will first convert the digital assets into the local currency of the UAE and then deposit them into RAK Properties' account. According to TradingView data, since its listing on the Abu Dhabi Securities Exchange in 2005, RAK Properties has reached a market capitalization of 4.7 billion dirhams (approximately 1.3 billion USD).