XRP Is Now Accepted For Top Real Estate In Dubai

By Kevin • December 26, 2022 8:23 pm • Comments

Dubai continues to prove itself as one of the most crypto friendly cities in the world and XRP is continuing to prove that it has a tremendous amount of use cases and utility.

The most recent development is that owners of XRP can now use their XRP tokens to purchase Keturah Reserve homes in Dubai.

The Keturah Reserve homes is built by a top restate developer in the UAR called MAG and this recent news is big as it means that the developer may likely start to accept XRP as payment for all of its real estate projects.

Trending: Ripple Spells Out Penalty Terms To SEC

The Keturah Reserve is also one of the most popular residential areas in the city which shows that this is a widespread adoption for the XRP token and that it is now starting to be commonly accepted as a method of payment.

This is in addition to all the other services that the XRP ledger provides such as providing On-Demand liquidity for financial insitutions and powering cross-border transactions between countries.

U.today reports:

Last month, MAG, a top real estate developer in the UAE, announced the launch of Keturah Reserve, a United Arab Emirates Dirham (AED) 3 billion exclusive, new luxury residential complex in Meydan, one of Dubai’s most sought-after residential areas.

Keturah Reserve will feature super homes consisting of villas and one-, two-, three- and four-bedroom apartments and is part of the new luxury real estate and hospitality brand Keturah.

A cryptocurrency payment option indicated in the Keturah Reserve’s official brochure supports XRP, USDT, BTC, ETH, USDC, LTC, BCH, Link, UNI, COMP, CHZ and eight other cryptocurrencies.

The continued increase in value for XRP is happening despite the current lawsuit that is blocking Ripple from doing business in the United States.

The outcome of the summary judgement in the lawsuit is still something that investors and speculators are anxiously waiting on as the lawsuit is quickly approaching the two year milestone.

It is expected that the decision will have long term effects not only on Ripple (XRP), but also on the rest of the crypto industry as it would define which crypto assets would be considered securities by the SEC and which would not.

Either way, it does not matter for Ripple in the long scheme of things as they have already proved that they are not reliant on the United States and their regulations anymore.

U.today concludes:

An XRP user asked, “If Ripple gets outright victory in lawsuit, & sec appeals to appellate court, what happens in interim?

Does Ripple have green light to operate in US until final decision made?”

James K. Filan responded, “The SEC will ask to stay the judgment pending its appeal to the Second Circuit. That means it will ask the court not to enforce the judgment until the appeal is over. That would be an epic battle between the parties and whether the court agrees to that remains to be seen.”

Attorney Jeremy Hogan thinks otherwise: “If she (Judge Torres) rules simply that there was absolutely no Sec. 5 violation, what is there to ‘stay’ other than the typical post-judgment motions on costs.” Another user believes that if Ripple wins, exchanges will feel more confident to relist XRP.

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