UAE company RAK Properties to accept cryptocurrencies such as Bitcoin for real estate transactions

PANews September 2nd news, according to Cointelegraph, RAK Properties, one of the largest listed real estate companies in the UAE Ras Al Khaimah emirates, will begin to accept cryptocurrencies for international real estate transactions. According to an announcement released on Monday, RAK Properties will begin accepting payments to cryptocurrencies such as Bitcoin and Ethereum USDT. Cryptocurrency transactions will be processed by Hubpay, the region’s global payment platform. Hubpay will first convert digital assets into local legal currency in the UAE and then deposit them into the RAK Properties account. According to TradingView data, since its listing on the Abu Dhabi Stock Exchange in 2005, RAK Properties has a market value of Dh4.7 billion (about US$1.3 billion).