UAE Nakheel and Hayvn offer crypto payment options for Nakheel clients

UAE Properties developer Nakheel and Abu Dhabi based crypto exchange Hayvn partner to offer crypto payment options for Nakheel clients. Nakheel clients are able to pay for their rent, service fee, and real estate purchases in cryptocurrency.

This is the first time a regulated UAE real estate cryptocurrency payment solution is in play, Hayvn said in a statement. The CEO of Hayvn, Christopher Flinos, said: “Cryptocurrency is a $1.8 trillion asset class. When you open up a market to investors who together comprise $1.8 trillion, then you are going to see some investors switch out of crypto and into UAE real estate. This is the biggest change to UAE real estate since the Palm Jumeirah was announced. To be working with Nakheel, the original pioneer of Dubai real estate demonstrates the value of our ADGM regulated status.

“To have such a major industry pioneer as a partner demonstrates the importance of Hayvn’s ADGM-regulated entity status. This association signifies why we strive to keep innovating, based on our commitment of building trust and maximizing our digital currency financial offerings,” Flinos added.

Accepting cryptocurrency payments from customers supports the UAE’s drive to expand the cryptocurrency sector. Various other real estate players have already started accepting crypto as a form of payment. They include Damac, and FAM properties with Huobi among others.

In 2022 Crypto payments for properties in the UAE increased by 300 percent.