The United Arab Emirates (UAE) is strengthening its position as a global crypto hub as real estate giant RAK Properties announces plans to accept Bitcoin (BTC), Ethereum (ETH), and stablecoins like USDT for property transactions. The move marks another step toward mainstream crypto adoption in the real estate sector.
Crypto Payments for International Buyers
RAK Properties, a leading real estate developer in Ras Al Khaimah and listed on the Abu Dhabi Securities Exchange, confirmed that international property buyers can now pay using cryptocurrencies. Supported digital assets include BTC, ETH, and Tether’s USDt, among others.
The payment process will be facilitated by Hubpay, a regional payment platform that will convert crypto into UAE dirhams before depositing funds into RAK’s accounts, ensuring compliance and security.
RAK Properties’ CFO, Rahul Jogani, said:
“By enabling and supporting the use of digital assets, we are engaging with a new ecosystem of digitally and investment-savvy customers.”
Why UAE Is Leading Crypto Adoption
The UAE has emerged as a top destination for crypto businesses due to its clear regulatory frameworks and zero tax on crypto profits. The country is actively working to become a global blockchain and Web3 hub, attracting investors and innovators.
According to Chainalysis, crypto activity in the UAE has surged across all transaction sizes, with small retail transactions increasing by over 75% year-over-year as of June 2024. Analysts forecast that crypto could become the country’s second-largest sector within five years.
RAK Properties has a market capitalization of AED 4.7 billion ($1.3 billion) and plans to launch 12 new projects in 2025, reflecting strong growth momentum. The company’s net profit jumped 39% in 2024, rising to AED 281 million from AED 202 million the previous year.
This development highlights the growing intersection between real estate and digital assets, offering global investors a convenient, borderless payment method. As the UAE continues to adopt crypto-friendly policies, real estate is set to become one of the most attractive sectors for crypto-backed investments.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.