​​Investors from around the world now have the option to buy property in Ras Al Khaimah (RAK) using cryptocurrency.

RAK Properties has partnered with Hubpay to facilitate these transactions, which instantly convert digital assets like Bitcoin (BTC), Ethereum (ETH), and USDT into UAE Dirhams. This process ensures that RAK Properties receives payment directly in their bank account without handling any digital assets themselves.

This move aligns with a broader trend in the UAE, where companies are increasingly adopting cryptocurrency for payments. Other major entities, including Dubai-based developers like Damac Properties and the Dubai Land Department, have also embraced digital currencies to simplify real estate transactions for investors.

A key reason for this change is to make property investment more accessible and appealing to a wider, more tech-savvy international audience. RAK Properties’ Chief Financial Officer, Rahul Jogani, highlighted that this initiative will help the company attract a new class of global buyers while reinforcing its reputation as a modern, forward-thinking developer.

In addition, Hubpay’s CEO, Kevin Kilty, noted that the partnership will enable RAK Properties to tap into a new market of international buyers interested in using digital assets for real estate purchases.

Key Takeaways

• RAK Properties now accepts cryptocurrency for property purchases in Ras Al Khaimah.
• The partnership with Hubpay ensures all crypto payments are automatically converted to UAE dirhams.
• This initiative reflects a growing acceptance of digital assets for real estate transactions across the UAE.