In Brazil, you can now Pay for Real Estate with ADA, XRP, and Matic

Gafisa a renowned Brazilian real estate developer has begun taking cryptocurrency payments for real estate sales. The company is using local cryptocurrency exchange Foxbit to take cryptos.

Since February 2021, Gafisa has been looking toward accepting the main cryptocurrency as a payment mechanism. The company, which was created in 1954 and is listed on the country’s only stock exchange, B3, is now accepting Bitcoin payments since the cryptocurrency eliminates the need for middlemen.

Real estate transactions are facilitated by a number of intermediaries. Banks, real estate brokers, payment processors, and other companies are among them. Bitcoin allows participants to bypass some of these middlemen.

The rise of the cryptocurrency market, according to Gafisa CEO Guilherme Augusto Soares Benevides, is one of the reasons the company is considering it.

There is no way to do business without taking cryptocurrency as a method of payment since, in addition to offering another payment option for the buyer – focusing on Customer Experience – the currency’s adoption promotes the best for our customers.

The organization accepts a variety of cryptocurrencies in addition to Bitcoin, including Ethereum ($ETH), Cardano ($ADA), $XRP, Solana ($SOL), and others. The company accepts payments in 16 different cryptocurrencies in total.

According to Gafisa, one out of every 130 Brazilians lives in a property created by the company, making it one of the country’s top real estate developers. Buyers must fill out paperwork indicating their intention to purchase a property with cryptocurrency. The organization will then thoroughly examine the form before providing the buyer with a wallet address.