Proptech Pacaso has announced that it is accepting crypto payments for the purchase of villas and flats. The transactions are being handled in partnership with leading crypto payments provider, BitPay.
Pacaso brings crypto payments to the real estate sector
Pacaso, a real estate platform founded last October 2020 and co-founded by Spencer Rascoff and Austin Allison, is ready to accept cryptocurrencies for the purchase of houses and flats, in response to growing consumer demand.
Reportedly Pacaso sees crypto as no longer a financial market niche, but an investment asset that more and more people are adding to their wallets.
In response to the possibility of using Bitcoin and other cryptocurrencies, Proptech has decided to introduce crypto payments in collaboration with BitPay.
Specifically, the accepted cryptocurrencies are Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Dogecoin (DOGE), Wrapped Bitcoin (WBTC) and several other, including five stablecoins pegged to the dollar.
In this regard, Pacaso CEO Austin Allison stated thus:
“Digital currencies and the blockchains that power them are seeing increased adoption across the real estate industry, and a crypto payment option is a recurring topic in our conversations with prospective buyers of second homes. As we expand internationally and put second home co-ownership within reach for more people across the globe, we’re thrilled to be able to respond to that demand and extend as many payment options as we can to our customers”.
Pacaso and BitPay to expand crypto adoption
Pacaso, in just one year, has become the leading platform that helps people co-own a second home. Not only that, Proptech has reportedly closed two investment rounds worth $200 million within six months.
To continue innovating, the real estate platform has chosen BitPay. In this regard, Stephen Pair, CEO of BitPay also commented on the new crypto real estate combination as follows:
“We are seeing more transactions being made for large purchases like real estate as more crypto holders want to spend and live their life on crypto. Pacaso makes a second home a reality,” said Stephen Pair, CEO of BitPay. “The market potential for crypto is huge, with $55 Billion as the estimated value of purchases consumers will make using cryptocurrency in the next 12 months”.
BitPay and the mass adoption of cryptocurrencies
The mass adoption of cryptocurrencies across sectors is increasingly becoming a reality thanks to crypto payments provider BitPay.
In fact, in addition to the present real estate sector, BitPay is also said to have approached the crypto world in the fashion industry this month, in partnership with Pacsun.
In practice, the American fashion retailer has chosen to accept payments in 11 cryptocurrencies in order to stay close to its consumers belonging to the Generation Z.
Not only that, BitPay is also the crypto payment provider of choice for the American film giant AMC.