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Residents can now use cryptocurrency to legally purchase real estate in South Africa in a first-of-its-kind offering.
Real Estate Purchases Made Easy With Crypto
Schindlers Digital Assets along with Schindlers Attorneys and Broll Auctions and Sales have developed the first legally-compliant process for crypto holders in South Africa to buy real estate with bitcoin or ethereum.
As a financial services provider, Schindlers Digital Assets offers crypto conversion services that adhere to financial regulation for crypto holders in South Africa. This partnership has allowed Schindlers to expand its crypto offering by enabling buyers invest in real estate with confidence using digital assets.
This collaboration will see Schindlers Attorney handle the legal property transfer process with Broll Auctions adding the final piece of the puzzle via real estate auctions.
Candice Dawkshas, CEO of Schindlers Digital Assets said:
Schindlers is uniquely positioned as the first and only conveyancing law firm in South Africa capable of lawfully handling cryptocurrency payments for property transfers. This collaboration is perfectly timed as digital currencies gain wider acceptance in mainstream financial systems. With more investors holding substantial crypto assets, the demand for using these assets in traditional sectors like real estate has never been higher.
Prospective buyers who wish to utilize their cryptocurrency assets as payment will be able to do so at the Broll Auctions and Sales auction in Johannesburg on Nov. 21, 2024.
South African residents are increasingly adopting cryptocurrency to pay for goods and services with a recent report revealing that grocery shoppers are buying more than 1 million Rand per month worth of groceries using crypto.