Huobi Exchange Partners With UAE Real Estate Firm to Enable Crypto Payments
Helen Partz's original article for cointelegraph.com reduced by 80%
Major cryptocurrency exchange Huobi has partnered with a real estate firm in the United Arab Emirates to allow real estate investors to pay in cryptocurrencies. The Singapore-based crypto exchange has entered a partnership with fäm Properties, a tech-driven real estate agency based in Dubai, to offer crypto payment options for its real estate investors, UAE-based business publication AMEinfo.com reports Jan. 12.Crypto to enable more stability and liquidity in the real estate market.
The cooperation will purportedly enable more stability and liquidity in the real estate market. Huobi to convert crypto into fiat for fäm Properties. Mohit Davar, a co-founder of Huobi OTC at DMCC, said that the firm will provide fäm with liquidity and resources to facilitate virtual money payments for customers.
The real estate market in the UAE has been actively embracing emerging technologies like blockchain and associated digital assets. In October 2019, Emaar Properties, the Dubai-based real estate giant that developed the world's tallest building, the Burj Khalifa, released its new blockchain token-based referral and loyalty platform.
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