Real estate investors in Portugal can now use Dogecoin to buy luxurious apartments. This marks a huge step towards boosting crypto adoption.
Dogecoin started as a joke, but the coin has now taken over the crypto sector, with Portugal allowing DOGE holders to use the token to invest in real estate. You can now buy a luxurious apartment in Lisbon, Portugal, using Dogecoin.
FNTX Capital Suisse, a crypto payments and OTC liquidity provider, has partnered with a property developer based in Portugal to list condos that can be bought using crypto.
Through the partnership, buyers will be able to buy the apartments using various tokens, including Bitcoin, Ethereum, Dogecoin, and Cardano. Buyers will have to use the ‘Real Estate Exchange’ platform on FNTX. The platform has already seen some activity, with three listings being made. These include a two-bedroom apartment at 1.57 Dogecoin equivalent to $690,000. Another listing includes a penthouse being sold for 5 million Dogecoin, equivalent to $2.2 million.
Crypto for Real Estate
A recent report revealed that U.S real estate sellers were warming up to accepting cryptocurrencies as payment. The report indicated that 71 real estate listings were done in April, mentioning cryptocurrencies and mostly Bitcoin.
Arte Surfside, a Miami-based luxurious apartment, has also joined the crypto sector after stating it would start accepting crypto payments, specifically, Bitcoin and Ethereum. The luxurious apartments house Ivanka Trump.
Besides the U.S. real estate sector, other countries have also become more receptive to accepting cryptocurrencies as a payment method. On May 12, the largest outdoor venue in Montreal, Canada, Beach Club, stated that it would allow the purchase of alcoholic products using cryptocurrencies from 2022. The club has a capacity of 100,000.
The Beach Club owner announced this on a social media post, saying, “Beach Club will officially be the first club in Canada to accept Bitcoin and Ethereum as a method of payment.”
However, the post only stated that the venue would accept Bitcoin and Ethereum payments and did not detail how this would be actualized. The owner stated they were considering several crypto platforms to integrate into their payment system.
The announcement came out as a way of giving the Beach Club free publicity. If the business were keen to start adopting crypto, it would have done so at this critical time when Bitcoin and other cryptocurrencies have made their way to wealthy investors.