Huobi Exchange Partners With UAE Real Estate Firm to Enable Crypto Payments
Major cryptocurrency exchange Huobi has partnered with a real estate firm in the United Arab Emirates (UAE) 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.
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.
"If someone wants to buy property and use crypto as a payment currency, then we will help facilitate that transaction and sell their cryptocurrency and make the payment to fäm in fiat currency.” - Davar
Meanwhile, 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.