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One of the largest real estate construction companies in the United Arab Emirates, Binghatti Developers, has issued a press release on the start of accepting payments in the form of digital cash. It was about the ability to use Bitcoin (BTC) and Ethereum (ETH) cryptocurrencies as payment.
The developers’ message read: the acquisition with the help of virtual assets extends to the purchase of any real estate, including projects of unrealized construction.
The head of Binghatti, Muhammad Binghatti, after highlighting the innovations, added:
“We are starting 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 replenish our capabilities.”
Binghatti has become the second Dubai developer to announce its intention to use cryptocurrencies as a payment instrument. Earlier, a similar possibility was announced by Damac Properties.
The United Arab Emirates, according to experts, are the legislators of the trend of introducing digital assets into everyday life. According to the materials of the Dubai news publication Khaleej Times, cryptocurrencies can currently pay for the legal services of Ashish Mehta and Associates, food in the delivery service Yalla Market, as well as training at the Citizens Schools school.
The policy of loyalty to the crypto industry was actively supported by the UAE government, having created a legal framework for the regulation of virtual financial instruments.
The result was the formation of the state supervisory authority for the regulation of virtual assets – VARA. The Dubai regulator gained wide international fame after it placed the headquarters of MetaHQ in the Metaverse.
Earlier, the editorial board of the Crypto.ru reported that the management of the Binance exchange reported on the conduct of active negotiations with Arab sheikhs to deepen cooperation.
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