RAK Properties, a top real estate developer in the UAE that is listed on the Abu Dhabi Securities Exchange, has teamed up with the fintech business Hubpay to let clients from other countries buy property with cryptocurrency. The goal of the program is to target international investors seeking to use digital assets to purchase real estate.
The partnership enables payments using Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) through the fintech’s regulated platform, which converts cryptocurrency payments directly into UAE dirhams (AED) before transferring funds to RAK Properties, eliminating direct digital asset exposure for the developer. This means that the developer won’t directly own any digital assets, which lowers the risk of volatility.
The initiative is part of RAK Properties’ strategy to expand its investment appeal, especially for its flagship Mina Al Arab waterfront community, where more than 800 residential units are scheduled for delivery by the end of the year. By allowing digital asset payments, the company aims to attract a wider range of international buyers and position the city as a good-looking real estate destination.
RAK Properties’ premium projects include partnerships with international brands such as Anantara and Nikki Beach, positioning the developer in the high-end market segment where international crypto investors typically participate.
Hubpay and its associates are licensed by the Virtual Assets Regulatory Authority (VARA) and Abu Dhabi Global Market (ADGM), ensuring that all transactions are in compliance with UAE Anti-Money Laundering (AML) and Know Your Customer (KYC) requirements. This guarantees that payments are processed in a secure and transparent manner, following international standards.
The partnership also aligns with Ras Al Khaimah’s Vision 2030 strategy, which emphasizes the development of world-class infrastructure, the promotion of investment, and the reinforcement of the emirate’s status as an innovative center in real estate and tourism.
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