Binghatti Developers, one of the largest real estate construction companies in the United Arab Emirates, issued a press release about the start of accepting payments in the form of digital money. It was about the possibility to use Bitcoin (BTC) and Ethereum (ETH) cryptocurrencies as payment.
This step is seen primarily as a way to attract a wider range of customers, as well as to protect the company for the future from possible changes in the global financial system. Cryptocurrencies have been gaining popularity in recent years, and Binghatti Developers was one of the first major developers to adopt them. The move is likely to boost investor interest in the company and could help attract new clients looking for a visionary and innovative partner.
The message from the developers was that the acquisition with virtual assets extends to the purchase of any property, including yet-to-be-realized construction projects.
Binghatti CEO Muhammad Binghatti, after covering the innovation, added: “We are beginning our journey of using digital payments with the integration of leading cryptocurrency assets. The dynamics of further interaction will shed light on what digital currencies will add to our capabilities.”
Binghatti is the second Dubai-based developer to announce its intention to use cryptocurrencies as a payment instrument. Earlier, a similar possibility was announced by Damac Properties.
According to experts, the Arab Emirates is a trendsetter in the introduction of digital assets in everyday life. According to the Dubai-based news outlet Khaleej Times, cryptocurrencies can now be used to pay for legal services at Ashish Mehta and Associates, food at Yalla Market delivery service, and education at Citizens Schools.
The policy of loyalty to the crypto-industry was actively supported by the UAE government by creating a legal framework for the regulation of virtual financial instruments.
The result was the formation of the state supervisory body for the regulation of virtual assets – VARA. The Dubai-based regulator became widely known around the world after it placed MetaHQ’s headquarters in the Meta universe.
CEO and Founder of Cryptoconsulting,
Expert in web3 technologies – Kotov Dmitry
