Gafisa: Brazilian real estate giant will accept Bitcoin

Gafisa, in collaboration with cryptocurrency gateway provider Foxbit, has enabled Bitcoin as a payment method for real estate purchases.

Gafisa enables Bitcoin as a payment method for real estate in Brazil

Gafisa, a $190 million Brazilian real estate giant with 4500 employees and the fourth largest real estate company in the country, announced in recent days that it will accept Bitcoin as a form of payment for its real estate. It was the company’s CEO himself who made the announcement:

“Bitcoin is the most valuable cryptocurrency by market capitalization and technologically the biggest currency in history. It is a currency that is gaining in popularity daily, hence broadening its applications”.

NEW – CEO of Brazilian real estate giant, Gafisa: #Bitcoin is the most backed currency in history 🙌

— Bitcoin Magazine (@BitcoinMagazine) May 26, 2022

Brazil is one of the countries where the adoption of cryptocurrencies is spreading the most. According to the website Triple A, in 2021 about 5% of the population would already be in possession of cryptocurrencies. 

According to a 2021 report by blockchain company Gemini, Indonesia and Brazil were the two leading countries in the world in terms of cryptocurrency adoption last year. 

41% of people surveyed said they owned Bitcoin, compared to 20% in the US and 18% in the UK.

Gafisa enters the cryptocurrency world

Gafisa will use São Paulo-based Foxbit, one of the largest cryptocurrency exchanges in South America, as a provider for its cryptocurrency payments.

Guilherme Benevides concluded by saying: 

“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”.

As part of the project, the company announced that for now it will accept Bitcoin, Ethereum, Cardano, Solana and XRP. 

Brazil recently introduced a self-regulatory code for cryptocurrencies, as well as offering ETFs on the spot value of Bitcoin since last year.

Gafisa is the country’s fourth largest real estate development company and continues to grow. It is listed on the São Paulo Stock Exchange, and its shares have almost doubled in price since the company first announced that it was accepting cryptocurrencies.