Hubpay, an ADGM-regulated fintech, has entered into a partnership with Ras Al Khaimah’s publicly listed real estate developer, RAK Properties, to enable international clients to purchase property using digital assets. The collaboration allows Hubpay to provide the regulated infrastructure for high-value real estate transactions using cryptocurrencies.
Key Highlights
The partnership introduces a secure and compliant mechanism for crypto-to-fiat property sales:
- Key Digital Assets: Buyers can pay with assets such as USDT, Bitcoin, and Ethereum.
- Hubpay’s Role: The ADGM-regulated platform converts the crypto payments into UAE dirhams, which are then settled directly into RAK Properties’ account.
- Regulated Framework: All transactions are processed through Hubpay and its VARA-licensed partners, ensuring a secure and compliant process.
- Target Audience: The solution is aimed at attracting a new class of global, digitally savvy investors.
Enabling a New Class of Global Buyers
This partnership allows a leading real estate developer like RAK Properties to attract a new segment of international buyers who are looking to invest in property using digital assets. Hubpay provides the crucial regulated infrastructure needed to facilitate these high-value transactions securely and seamlessly.
“This partnership is about enabling a leading real estate developer, RAK Properties, to attract a new class of global buyers looking to purchase property with digital assets,” said Kevin Kilty, Chief Executive of Hubpay. “Our regulated solution provides the trust and infrastructure for high-value transactions, ensuring the process is secure, compliant, and seamless for global clients”.
A Secure and Compliant Solution
A key aspect of the partnership is that RAK Properties itself will not handle any digital assets. All transactions are processed through Hubpay’s regulated platform and its VARA-licensed partners, which de-risks the process for the developer and ensures full compliance with UAE regulations.
Rahul Jogani, Chief Financial Officer at RAK Properties, stated, “By enabling and supporting the use of digital assets, we are engaging with a new ecosystem of digitally and investment savvy customers while at the same time strengthening RAK Properties’ status as a forward-thinking brand”.
Source: Fintechnews Middle East
