Developers of Burj Khalifa add Bitcoin (BTC) and Ethereum (ETH) as a mode of payment
Developers of Burj Khalifa, the tallest building in the world, have added Bitcoin (BTC) and Ethereum (ETH) as a mode of payment.
The developers, Emaar Properties, are among the largest property firms in Dubai. Payments in Bitcoin (BTC) and Ethereum (ETH) will be handled by Bitcoin Suisse, a crypto payment processing company.
The news was reported by Trustnodes after it interrogated a tweet by Invest Group, a brokerage firm which is a registered agent for Emaar Properties. The brokerage firm replied by indicated that Emaar properties has started accepting Bitcoin (BTC) and Ethereum (ETH) payments.
Although Emaar Properties has not officially announced the new developments, the email received from Invest Group states that:
[Emaar Properties is] pleased to announce that all customers will be able to buy Emaar Properties using digital currencies (Bitcoin (BTC) and Ethereum (ETH)). The transaction will happen through one of the biggest brokers of digital currencies in the world ‘Bitcoin Suisse’ who are regulated and based in Switzerland.
Instead of storing Bitcoin (BTC) and Ethereum (ETH), the developers of Burj Khalifa will only receive the fiat equivalent.
Although the communications between Trustnodes and Invest, only mentioned Bitcoin (BTC) and Ethereum (ETH), the crypto processor processes Bitcoin Cash (BCH) and Bitcoin Satoshi Vision (BSV).
Emaar Properties, with a revenue of 6 billion U.S dollars per year, tops the list of companies in the property market to welcome Bitcoin (BTC) and Ethereum (ETH) payments. Additionally, it becomes the largest firm in the United Arabs Emirates to accept cryptocurrency payments.
In the recent past, the Middle East has been warming up to digital currencies. Last month, a committee comprised of representatives from the United Arabs Emirates (UAE) and Saudi Arabia met to plan how to develop a cross-border digital currency.
Do you think more property firms in the Middle East will now be comfortable accepting Bitcoin (BTC) and Ethereum (ETH) payments?
Let us know your thoughts in the comments section below.