Crypto.com Partners with Dubai Land Department to Pioneer Crypto Payments in Real Estate

Dubai's property market just got a blockchain boost—and traditional banks might want to look away.

Crypto.com locks arms with Dubai's Land Department to crack open real estate transactions for digital assets. No more begging legacy finance for permission slips.

Why it matters: When a global crypto giant and a forward-thinking regulator collide, the old guard's 'wait-and-see' approach starts looking like malpractice. Bonus jab: Your fiat mortgage approval still takes 45 days.

Crypto.com to support Dubai’s digital real estate transactions

Crypto.com will support Dubai’s digital real estate transactions using blockchain and digital currencies, better known as crypto for property transactions. This will not only help in increasing liquidity in the real estate sector but also modernize it.

The partnership also aspires to build an integrated digital ecosystem that enables real estate asset trading, investor verification, and the execution of digital custody and settlement processes within a secure and advanced framework.

Crypto.com will propose solutions for tokenizing real estate and trading digital assets, while the Dubai Land Department (DLD) will explore them and provide administrative and logistical support to implement these regulatory approved joint projects. Crypto.com will also offer technical support, analytical tools and reports for these projects.

The Department of Finance (DOF), which develops and executes the government’s annual budget, will allow payment of government fees in crypto via the Crypto.com UAE-regulated exchange. Once the system is activated, individuals and businesses will be able to use Crypto.com’s digital wallet and pay for government services. The platform will convert crypto payments into AED and securely transfer the funds to Dubai Finance accounts.

Dubai has commenced real estate tokenization

PRYPCO Mint, a joint initiative between the Dubai Land Department (DLD) and PRYPCO licensed by the Virtual Assets Regulatory Authority (VARA), has successfully completed two tokenized property listings.

This is part of the Real Estate Tokenization project, which operates under a framework developed by the DLD in partnership with VARA, the Central Bank of the UAE (CBUAE), and the Dubai Future Foundation (DFF) through the Real Estate Sandbox.

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