Huobi is a well-known cryptocurrency trading platform. Over the years, the company has ventured into other business models, which now include real estate.
To be more specific, Huobi is working together with a real estate firm in the UAE.
Huobi Enters the Real Estate Market
The objective of this project is to help real estate investors settle in cryptocurrencies.
Adding crypto as a payment option for real estate investors is a very intriguing business model.
Any properties sold through this UAE-based company can be paid for with ether, bitcoin, XRP, and several stablecoins.
This move will also help attract foreign investors eyeing the UAE market.
Rather than dealing with fiat currency conversions, cryptocurrencies are universal payment options.
It is acknowledges how cryptocurrencies are gaining a lot more traction worldwide.
According to the official press release, they are being “used more often as a payment method”, which is an interesting way to look at the current situation.
Huobi has also obtained a license from the Dubai Multi Commodities Centre to officially engage in this type of activity .
The exchange will ensure ample liquidity is provided to its real estate partner.
Additionally, Huobi will provide all the resources necessary to complete digital currency payments.
This does mean that Huobi will convert incoming crypto payments to fiat currency to complete the transaction.
The post Huobi Brings Crypto Payment Support tot he UAE Real Estate Industry appeared first on CryptoMode.