Use of Crypto Assets Spreads in European Property Deals… “More Than 100 High-Net-Worth Transactions Completed”
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Summary
- Large-value transactions using crypto assets (cryptocurrencies) are rapidly increasing in Europe’s real estate market.
- The number of crypto-based real estate transactions brokered via the Brighty platform has surpassed 100, with individual deal sizes ranging from a minimum of $500,000 to a maximum of $2.5 million.
- While the dollar-pegged USDC was commonly used, there are growing cases of switching payment methods to euro-pegged stablecoins such as EURC given the nature of Europe’s real estate market.
Large-value transactions using crypto assets (cryptocurrencies) are rapidly increasing in Europe’s real estate market.
According to CoinDesk on the 11th (local time), Nikolai Denisenko, co-founder of digital finance platform Brighty, said, “Over the past year, hundreds of high-net-worth individuals (HNWIs) have used crypto assets to purchase real estate in Europe.”
Denisenko said the number of crypto-based real estate transactions brokered via the Brighty platform has surpassed 100, with key markets including the UK, France, Malta, Cyprus and Andorra. Individual deal sizes range from a minimum of $500,000 to a maximum of $2.5 million, placing them in the traditional luxury property segment.
In particular, efforts to reduce currency-exchange costs have become more pronounced. While using the dollar-pegged stablecoin USDC was previously common, there are increasing cases of switching payment methods to euro-pegged stablecoins such as EURC, reflecting Europe’s real estate market where many transactions are euro-denominated.
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