Tulum is the first city in Mexico to accept cryptocurrencies for Real Estate purchases

The purchase was for a 2-bedroom lock off apartment. The buyer sought a vacation rental property and made a payment equivalent to 5.78 Bitcoins.

The Riviera Maya has been characterized for being an innovative state, and the Real Estate area has been in charge of keeping it that way.

With the first purchase of a property with cryptocurrencies, a new chapter in the real estate industry in Mexico opens.

The purchase was an apartment in Tulum, this apartment is located in one of the most valuable areas of this paradisiacal destination. The purchase was made by a person who lives in Peru.

Cryptocurrencies have arrived to the Riviera Maya

This is a lock-off an apartment with 2 bedrooms. The buyer is looking to use her apartment as a vacation rental. In the transaction, the developer did not make the conversion to the current currency. They decided to keep the 5.78 Bitcoins that were paid for the property.

The company PropTech, in charge of real estate digitalization, was in charge of the transaction.

The proptech is one of the first to offer a fully integrated digital process with Bitcoin, which operates through the Lightning network, using the Bitcoin OpenNode processor.

The cryptocurrency integration is driven by its benefits in terms of convenience and security for making transactions and investments, as well as its specific benefits for Latin America, such as inflation, exchange rate fluctuations and bankability.

“This is an effective way to make international transactions, because it removes intermediaries, and addresses real problems in Latin America such as exchange rate fluctuations and inflationary phenomena, which are much higher than in developed countries. With this we are taking another step towards making our countries more attractive for investment by foreign individuals, and one of our bets for the future is that Bitcoin will be a fundamental means of payment in real estate,” said Jehudi Castro-Sierra, Vice President of the Future at La Haus.

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