Skip to main content

Domestic and Foreign Buyers Acquired a ‘Tokenized’ Apartment in a Spanish City by Paying With Ethereum

Domestic and Foreign Buyers Acquired a 'Tokenized' Apartment in a Spanish City by Paying With Ethereum

National and foreign buyers acquired a “tokenized” apartment in Spain with ethereum, which involved a domestic crypto exchange and a real estate investment firm. The city of Sevilla was the scenario for the crypto deal between the parties.

Transaction Was Worth Over $64,000

According to El Correo Web, the Spanish crypto exchange Criptan and the investment firm Rental IT arranged the transaction of the property, tokenized by the real estate company.

The media outlet specified the tokenization — split into several tokens and digitalized through a blockchain — was done to target 32 investors from Spain, Argentina, and Mexico. With the acquisition, the buyers that disbursed their funds paying with ethereum (ETH) participated in the investment starting from 100 euros ($117).

Afterward, Rental IT exchanged the cryptos into fiat (euros) and then purchased the property from the owner. The transaction was reportedly worth 54,773 euros ($64,430), said El Correo Web. Jorge Soriano, the cofounder of Criptan, commented on the transaction:

It is the start for small savers to access a sector that until now has been difficult to access if it was not in your own country and eliminate excess bureaucracy. In addition to confirming the total security that exists behind these transactions through blockchain technology.

In the same line, Eric Sánchez, Rental IT’s CEO, believes such transactions pave the way for other brokers to sell real estate and other goods via crypto. Moreover, he forecasts that in ten years, the real estate sector could shift towards such adoption.

Crypto Real Estate on the Rise in the Iberian Peninsula

Crypto real estate’s boom in Spain has been making the headlines in the last few months, despite the coronavirus pandemic.

Bitcoin.com News reported early in March that Piso Barato Inmobiliaria, a Tenerife-based real estate firm, has enabled the feature that allows customers to acquire properties by paying with bitcoin (BTC).

Also, another Spanish real estate platform, Idealista, listed in February its first-ever property for sale for cryptocurrency — an apartment located in the center of Barcelona.

What do you think about this transaction involving a “tokenized” apartment? Let us know in the comments section below.



from Bitcoin News https://ift.tt/2Qwczaa
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli...
Post a Comment
Read more

DefiDollar Listing on AscendEX

PRESS RELEASE. AscendEX, formerly BitMax, an industry-leading digital asset trading platform built by Wall Street quant trading veterans, has announced the listing of the DefiDollar Token (DFD) under the pair USDT/DFD on Apr 29 at 1:00 p.m. UTC. DefiDollar is a DeFi lab that aims to bring mass adoption to DeFi with a wide-ranging product suite. The first product offering to go live will be the stablecoin index – DUSD, with ibBTC and optionCoin currently in development. DefiDollar (DUSD) aspires to be a risk-insured stablecoin layer for DeFi. It is designed to provide a safe and stable way for users to hold their assets with DUSD being optimized for peg safety, yield, and diversification. DefiDollar uses DeFi primitives to stay close to the dollar mark. DUSD provides an avenue for diversifying stablecoin holdings to hedge against an event where the underlying stablecoins like Tether or DAI deviate from their peg. DUSD is collateralized by Curve Finance LP tokens. DFD is the n...
Post a Comment
Read more