The decision was made in accordance with the DAMAC Group’s objective of using technology to bring innovative solutions to its clients, according to a press release from the company. DAMAC, as one of the first developers to make it possible for clients to buy real estate using cryptocurrencies, is poised to change the face of real estate in the next years. As a result, DAMAC’s efforts to provide convenience and flexibility to real estate investors throughout the globe would be strengthened. Ali Sajwani, General Manager of Operations at DAMAC and lead of the firm’s digital transformation initiatives, said: Sajwani added:
Dubai is becoming a crypto hub
The United Arab Emirates (UAE) drive to expand the crypto sector has lately garnered the attention of major corporations. Following the government’s decision to provide virtual asset licenses under the Dubai Virtual Assets Regulatory Authority (VARA), major cryptocurrency exchanges such as Binance are setting up in the UAE. In particular, Dubai is on the verge of becoming a cryptocurrency hub, with DAMAC Properties committed to fueling this goal via the use of new technologies, beginning with the acceptance of Bitcoin and Ethereum payments.
