U.S. · Bitcoin.com News
Ripple Targets High-Value Real Estate Deals With New Crypto Partnership
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Cryptocurrency holders could gain a smoother route to property purchases through a new partnership between Ripple and Cryptescrow.
Key facts
- An earlier transaction illustrates the conversion model in practice: a First American Title policy-issuing agent closed a $4.2 million residential purchase in which the buyer used Cryptescrow’s conversion process, the company reported Aug
- Standard Chartered separately opened custody for Ripple USD (RLUSD) on the XRP Ledger on Oct. 12
- In September, Cryptescrow also announced a partnership with crypto exchange Kraken to access trading infrastructure for luxury and commercial property purchases
- Ripple’s involvement in real estate predates the Cryptescrow partnership through its work with tokenization infrastructure provider Ctrl Alt in Dubai
Summary
Cryptescrow converts buyers’ digital holdings into U.S. dollars. Homebuyers holding cryptocurrency could find it easier to fund property purchases through a partnership designed to connect digital assets with conventional real estate closings. Under the model described in the announcement, Cryptescrow converts cryptocurrency into U.S. dollars for property purchases. The arrangement focuses on buyers with substantial holdings of cryptocurrency that can be exchanged or used for payments.