One of Brazil’s Leading Real Estate Companies, Gafisa, Accepts Crypto as a Form of Payment

Cryptocurrency continues to gain worldwide acceptance as various companies begin to accept crypto as a form of payment. A Leading Brazilian real estate company, Gafisa, has already started accepting crypto for property sales in a similar development. According to Gafisa’s back rooms, “Bitcoin is ideal for real estate development businesses since it eliminates middlemen, a frequent practice in the property development market.” 

In the recent news release announcing the acceptance of cryptocurrency, the company’s decision to accept bitcoin was based on the technology’s ability to generate new prospects for innovation in the financial sector. The company further announced that it accepts cryptocurrencies through the local exchange, Foxbit.

Guilherme Augusto Soares Benevides, the chief executive officer of Gafisa, cited the digital currency industry’s expansion as one factor for the company’s consideration. Cryptocurrency will give real estate as both can work together.

“There is no way to conduct business without embracing crypto as a method of payment because on top of offering an additional payment option for the buyer…the usage of the currency promotes the best for our customers,” said Benevides.

Brazil has become one of the most notable adopters of cryptocurrency in recent weeks due to the quick expansion of digital currencies in the country. According to a survey by Chainalysis, the nation ranks sixth in terms of value transferred on the blockchain. Even though Brazil’s Central Bank has not legally recognized bitcoin as a payment method, the participation of big corporations listed on the stock exchange has shown that cryptocurrency as a medium of payment is now extensively utilized.

“Bitcoin is the most valuable cryptocurrency by market capitalization and technologically, the biggest currency in history. It is a currency gaining in popularity daily, hence broadening its application.” Benevides said. In addition to Bitcoin, Gafisa accepts various additional virtual currencies, including Cardano ($ADA), Ethereum ($ETH), $XRP, and Solana ($SOL). This takes the total number of cryptocurrencies that the company accepts for payment to 16.

Although Bitcoin has experienced a downturn in recent weeks, it is expected to shake off this decline and rise back soon. Gafisa is one of Brazil’s top real estate companies, with one out of every 130 Brazilians living in a property created by the company. 

Featured Image: Megapixl @Maxsafaniuk

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