Elon Musk, who is famously a fan of DogeCoin, is currently holding a Twitter poll asking whether or not Tesla (NASDAQ:TSLA) should accept DOGE as payment. In the past, DOGE’s direct purchasing power was somewhat limited. However, today DogeCoin holders can use their coins to buy something new: a luxury condo.
FNTX Capital Suisse, a Zug-based crypto payments specialist and OTC liquidity provider, has partnered with Portuguese property developer, 355 Developments for a new real estate initiative led by David Rabbi, the project’s Co-Founder. Mr Rabbi and FNTX Co-Founder Israel Bitton have leveraged a network of fiat-friendly banking and settlement services in several jurisdictions in FNTX’s mission to assist business merchants and institutional clients in accepting crypto payments and cross-border transaction settlements.
Purchases can be executed via FNTX’s ‘Real Estate Exchange’ platform. Through the platform, FNTX Suisse facilitates real-estate ownership and exchange via crypto transactions. The platform is updated in real-time with cryptocurrency pricing for each listed property.
The initiative could mark an important moment for the purchasing power of cryptocurrencies. Historically, making large purchases with cryptocurrencies has been a nightmare of large-scale conversion to fiat, taxes and bureaucracy.
Granting crypto holders with the ability to directly purchase real estate with their crypto could change that.
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Source: Cryptocurrency - investing.com
