South African property buyers are now able to purchase real estate using Bitcoin or Ethereum.
Bitcoin.com reported the financial services provider Schindlers Digital Assets is now offering cryptocurrency conversion services that adhere to South African financial regulation for cryptocurrency holders. The company has partnered with Schindlers Attorney to handle the legal property transfer process and with Broll Auctions and Sales, which will present the properties for acquisition using cryptocurrency.
“This collaboration is perfectly timed as digital currencies gain wider acceptance in mainstream financial systems,” said Candice Dawkshas, CEO of Schindlers Digital Assets. “With more investors holding substantial crypto assets, the demand for using these assets in traditional sectors like real estate has never been higher.”
Dawkshas added, “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.”
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