The real-estate investment and management company, Jamestown LP has announced a major move towards crypto adoption. The company will now accept payments in cryptocurrencies.
Jamestown has partnered with BitPay and will accept rent payments in the form of crypto in the United States, with plans to expand to Europe.
The partnership with BitPay will allow Jamestown to accept crypto payments in:
- Bitcoin (BTC),
- Bitcoin Cash (BCH),
- Ethereum (ETH),
- Wrapped Bitcoin (WBTC),
- Dogecoin (DOGE),
- Litecoin (LTC),
- Five USD-pegged stablecoins (GUSD, USDC, USDP, DAI, and BUSD).
Michael Phillips, President of Jamestown said, “Allowing for cryptocurrency payments is part of our commitment to innovation and larger digital asset strategy to optimize and maximize our physical real estate through technology and virtual integrations.”
For the rent program, BitPay will serve as an intermediary between Jamestown and the tenants. Jamestown will not receive or hold cryptocurrencies at all.
The rent program includes the Ponce City Market in Atlanta, Ballston Exchange in Arlington, and Levi’s Plaza in San Francisco, along with their real estate properties all across the United States.
“In today’s world, customers want to pay for day-to-day items like food and rent in bitcoin or ethereum, and working with Jamestown lets them not only live life on crypto, but live and work in transformed spaces and innovation hubs across major cities” said Stephen Pair, CEO of BitPay.
Jamestown is also exploring direct deposit programs wherein the company’s employees can opt to be paid partially in crypto.
Jamestown is one of the first real estate companies to accept crypto payments in the United States. Another real-estate giant, Dubai’s Damac also announced to start accepting cryptos as modes of payment. The company will enable clients to purchase property with crypto hoping to make the process of purchasing property a lot smoother for real estate investors worldwide.