RAK Properties will accept cryptocurrency for international property purchases, allowing payments in Bitcoin (BTC), Ether (ETH) and USDT, with payments processed and converted to UAE dirhams by Hubpay to settle into RAK’s accounts, signalling deeper UAE crypto adoption.
RAK Properties accepts BTC, ETH and USDT for international property transactions
Hubpay converts crypto to UAE dirhams before deposit to RAK’s bank accounts
RAK Properties has 4.7 billion dirhams market cap; 2024 net profit rose 39% to 281 million dirhams
RAK Properties crypto payments: RAK accepts BTC, ETH and USDT for international transactions — learn how payments are processed and what this means for UAE crypto adoption.
What is RAK Properties’ new crypto payment policy?
RAK Properties crypto payments allow international buyers to pay in Bitcoin, Ether and USDT for property purchases, with Hubpay converting digital assets into UAE dirhams and depositing cleared funds into RAK’s accounts. The policy expands payment options for cross-border investors and formalizes crypto acceptance in Ras Al Khaimah.
How will RAK Properties process cryptocurrency payments?
RAK Properties will use Hubpay, a global payments platform, to handle crypto receipts. Hubpay will receive the digital asset, perform fiat conversion into UAE dirhams and transfer settled funds to RAK’s corporate accounts. This model reduces price volatility risk for the developer and simplifies compliance for buyers.
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The United Arab Emirates has become a hot spot for the crypto industry as clear regulatory frameworks and no tax on crypto profits has driven interest in digital assets.
RAK Properties, one of the largest publicly traded real estate companies in Ras Al Khaimah, UAE, announced it will accept cryptocurrency for international property transactions. Accepted currencies include Bitcoin (BTC), Ether (ETH) and Tether USDt (USDT).
The move reflects broader UAE crypto adoption, where regulators and free zones have created permissive frameworks that attract Web3 businesses and investors. Industry observers expect digital assets to become a major sector for the country in coming years, supporting real estate, payments and investment flows.
Ras Al Khaimah is the UAE’s fourth-largest emirate by area and has a population of roughly 400,000. RAK Properties has been listed on the Abu Dhabi Securities Exchange since 2005 and carries a market capitalization of 4.7 billion dirhams, per TradingView. The company reported a 39% year-over-year net profit increase in 2024, rising to 281 million dirhams from 202 million dirhams in 2023.
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Source: https://en.coinotag.com/rak-properties-to-accept-bitcoin-other-crypto-for-international-property-transactions-may-signal-rising-uae-adoption/