Rak Properties, one of the largest real estate companies that are traded in the year of Khaimah UAE in the United Arab Emirates (United Arab Emirates), will start accepting the encrypted currency for international real estate transactions.
According to Monday’s announcement, Rak Properties will Start Acceptance of payments in Bitcoin (BTC), Ether (ETH) and Tether’s Usdt (USDT), among other things. This step emphasizes the adoption of the growing digital assets in the United Arab Emirates, a sector that is expected to become one of the largest in the coming years.
Hubpay encryption transactions, a global payment platform in the region, will be dealt with. Hubpay will convert digital assets into the local FIAT in the United Arab Emirates before depositing it in RAK accounts.
“By enabling and supporting the use of digital assets, we are dealing with a new ecosystem of digital customers and investment (…),” said Rahul Jogani, RAK.
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Ras Al Khaimah is the fourth largest emirate in the United Arab Emirates, according to the region, with a population of about 400,000.
Rak Properties, listed in Abu Dhabi Stock Exchange since 2005, He has The market value is 4.7 billion Deirham ($ 1.3 billion), according to TradingView.
In 2025, the developer expands with 12 new projects, although the total volume of his wallet is still unclear. The net profit increased by 39 % on an annual basis, climbing To 281 million dirhams in 2024 from 202 million dirhams in the previous year.
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The dependence of encryption increases in the United Arab Emirates
The dependence of encryption in the United Arab Emirates grows steadily. The country is one of the most advanced in the encryption industry and has become a required destination for WEB3 companies and investors alike.
According to Chase Ergen, a member of the Board of Directors of Defi Technologies Defi Technologies at Defi Technologies, Crypto is expected to become the second largest sector in the country in five years.
According to Chainalysis, the activity of the encryption of the United Arab Emirates has grown in all brackets the volume of transactions over the past few years, as small retail transactions jumped by more than 75 % on an annual basis as of June 2024.
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