One Of Largest Brazilian Real Estate Developers Now Accepts Bitcoin

By Kevin • May 24, 2022 3:26 pm • Comments

Gafisa is known as one of the largest real estate developers in Brazil and the firm has now publicly announced that it will accept Bitcoin for the purchase of real estate.

The firm is promoting the use of digital assets like Bitcoin for real estate purchases mainly for the reason that it removes all the middlemen that would typically have to be present for such a transaction.

Within the real estate industry, a good percentage of the sale gets taken away from the real estate developer due to things like fees, banks, and commissions.

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By dealing directly with crypto for the sales, the developer is able to maintain as much value in the sale as possible which makes it a very attractive financial benefit for the firm.

BitcoinMagazine.com reports:

Foxbit stated that one of the reasons for Gafisa’s bitcoin integration was the removal of intermediaries. In the real estate market, plenty of entities get a piece of the pie, be it banks, real estate companies and agents, payment processors or other involved parties; there’s no shortage of intermediaries in a real estate transaction.

Bitcoin helps lessen the costs of transactions with quick and final settlements while eliminating the risk of fraud.

The press release stated that Gafisa’s decision to accept bitcoin was also largely based on the disruptive nature of the technology which can open opportunities for further innovation in the growing sector.

This growth has seen Brazil has become one of the leading countries for the adoption of bitcoin.

Not only does Brazil rank number six in on-chain value transacted in a report by Chainalysis, but Gafisa houses 1 out of every 130 Brazilians, according to Gafisa data, making this a natural path of progression.

The CEO of Gafisa has reaffirmed his confidence in Bitcoin due to the fact that its usage has continued to grow internationally despite much pressure and resistance.

As a result, its consistent popularity allows it to be used in ways that have never been done before and will likely signal an entire industry shift for real estate in the long-term future.

The firm expects this trend to be very popular specifically in emerging economies as those are typically the economies that have been open to embracing this technological change the fastest.

Ultimately, the view is that digitizing payments is an inevitability and this is just one of the changes that represents this change.

CoinQuora.com reports:

Benevides stated:

Bitcoin is the largest cryptocurrency in market value and, technologically, the most ballast currency in history.

It is a currency that is growing in popularity every day, also expanding the possibilities of its use.

“There is a natural tendency to digitize payments,” Benevides continued.

“If we stop to think that the Central Bank will launch the digital real in 2022, we can conclude that, in fact, digital currencies are increasingly present in the world.”

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