RAK Properties has partnered with Hubpay to allow international customers to buy real estate with crypto, with payments instantly converted into UAE dirhams.
Summary
- UAE’s RAK Properties has partnered with fintech firm Hubpay to allow international customers to buy real estate with crypto, including BTC, ETH, and USDT.
- Transactions are processed through Hubpay and its VARA-licensed partners, ensuring regulatory compliance and secure settlement directly into RAK Properties’ accounts.
RAK Properties, a publicly listed real estate developer in the UAE, has partnered with fintech company Hubpay to accept crypto payments for property purchases, as initially reported by Gulf Business. Buyers can use Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and other digital assets, which are immediately converted into UAE dirhams and deposited directly into RAK Properties’ accounts. All transactions are processed through Hubpay and its VARA-licensed partners, ensuring regulatory compliance and security.
“This partnership allows a leading real estate developer like RAK Properties to reach a new class of global buyers,” said Kevin Kilty, CEO of Hubpay. “Our regulated solution ensures high-value transactions are conducted securely and compliantly, providing peace of mind to international clients.”
The initiative targets international investors, particularly for RAK Properties’ Mina Al Arab community, supporting Ras Al Khaimah’s Vision 2030 goals to attract global capital. Over 800 units are expected to be delivered by the end of the year, and the integration of crypto payments is expected to broaden access for buyers from the UAE and overseas.
“By enabling the use of digital assets, we are engaging a new ecosystem of investment-savvy, digital-first clients while reinforcing RAK Properties’ position as a trusted and forward-thinking master developer,” said Rahul Jogani, CFO at RAK Properties.
The UAE’s property sector is increasingly enabling people to buy real estate with crypto, targeting a wider spectrum of investors. This began in 2022, when Dubai-based DAMAC Properties started accepting BTC and ETH for property purchases.
Where can you buy real estate with crypto?
Beyond the UAE, it is legally possible to buy real estate with crypto in several other countries, though the process depends on local regulations. In crypto-friendly markets like the UAE, Portugal, Turkey, and El Salvador, buyers can use Bitcoin, Ethereum, or stablecoins to purchase property directly or through licensed intermediaries, according to the 2025 report by Astons.
Credit: Source link
