Throughout the course of 2021, DogeCoin (DOGE) went from a little-known ‘joke’ cryptocurrency to one of the world’s most popular cryptocoins, creating a number of ‘DogeCoin millionaires’ in the process.
Elon Musk, who is famously a fan of DogeCoin, is currently holding a Twitter poll asking whether or not Tesla should accept DOGE as payment. In the past, DOGE’s direct purchasing power was somewhat limited. However, today DogeCoin holders can use their coins to buy something new: a luxury condo.
FNTX Capital Suisse, a Zug-based crypto payments specialist and OTC liquidity provider, has partnered with Portuguese property developer, 355 Developments for a new real estate initiative led by David Rabbi, the project’s Co-Founder. Mr Rabbi and FNTX Co-Founder Israel Bitton have leveraged a network of fiat-friendly banking and settlement services in several jurisdictions in FNTX’s mission to assist business merchants and institutional clients in accepting crypto payments and cross-border transaction settlements.
Purchases can be executed via FNTX’s ‘Real Estate Exchange’ platform. Through the platform, FNTX Suisse facilitates real-estate ownership and exchange via crypto transactions. The platform is updated in real-time with cryptocurrency pricing for each listed property.
The initiative could mark an important moment for the purchasing power of cryptocurrencies. Historically, making large purchases with cryptocurrencies has been a nightmare of large-scale conversion to fiat, taxes and bureaucracy.
Granting crypto holders with the ability to directly purchase real estate with their crypto could change that.