Huobi, a leading cryptocurrency exchange, announces partnership with UAE real estate company fam Properties. Provide secure cryptocurrency payment options to real estate investors and provide more flexible payments.
fam Properties is a real estate company that has been awarded by the Dubai Land Authority (DLD) for more than 10 billion dirhams in the last ten years.
The partnership with Huobi will now allow payments in Bitcoin (BTC), Ethereum (ETH), BitcoinCash(BCH), and other major cryptocurrencies, including some stable coins.
Huobi's OTC (over-the-counter) has been approved by the DMCC (Multi-Commodity Center, also a Dubai regulator) to provide fam Properties customers with competitive pricing and immediate transfer benefits. In addition, it guarantees a safe, seamless transaction that is legal, fully compliant.
Fiat currencies cover major currencies such as Dirham (AED), US Dollar (USD), Euro (EUR) and British Pound (GBP).
Mohit Davar, co-founder of Huobi OTC Desk at DMCC (Multi-Commodity Center), explained that Huobi would broker transactions using cryptocurrencies and fiat currencies.
"If someone buys a property and wants to use cryptocurrency as payment currency, Huobi brokers the transaction, buys their cryptocurrency and pays fam Properties in fiat currency."
Feras Al Msaddi, CEO of fam Properties, said the partnership would facilitate investment in prime locations in the UAE.
With cryptocurrencies becoming an increasingly popular form of payment around the world, he added that this new payment method will increase real estate transactions and add more value to the UAE real estate market.
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"This is syndicate per excellence". "It is a great development for the adoption of cryptocurrency in UAE. But, I believe with time a sifting operation will be done to select the best crypto- BCH"