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The cryptocurrency company Unicoin Inc. is claiming the “largest-ever cryptocurrency real estate deal” involving land holdings in the Bahamas.

According to the Miami-based company, the transaction covered two deals for the acquisition of beneficial ownership interests in companies holding prime land holdings in the Bahamas. The properties span 7,721 acres across Long Island and Andros Island in the Caribbean nation.

Unicoin said it committed a total payment of 1.1 billion unicoins for the acquisitions, reflecting a total value of $554 million at the current Unicoin fundraising price of 50 cents per unicoin. The company added this deal surpassed it previous largest deal of a $335 million purchase of the Eden Grand Resort property in Thailand.

“We are thrilled to announce the successful completion of these acquisitions, marking a substantial step forward, not only in Unicoin’s roadmap for strategic growth, but in opportunities that decentralized finance and cryptocurrency present to the broader global investment community,” Alex Konanykhin, CEO of Unicoin Inc. “The Bahamas is no longer an elite travel and tourism destination; it is becoming a world-renowned, digital asset hub, and thus a strategic addition to Unicoin’s global portfolio.”

“In partnership with Unicoin, we will explore options for developing hotel and condo resorts, and spotlighting prestigious flagship collaborations throughout the targeted properties,” said Armando Rubio, CEO and co-founder of New World Properties, who facilitated the deal. “This initiative ultimately aims to significantly expand the utility and value of the Unicoin ecosystem.”

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