Binance Pay, the contactless, limitless and secure cryptocurrency payment platform from Binance, the world's leading cryptocurrency infrastructure and blockchain ecosystem provider, has partnered with real estate agency Spain Homes to facilitate the purchase of property with cryptocurrency. The collaboration aims to streamline real estate transactions in Spain by taking advantage of the speed and efficiency of cryptocurrency payments.
According to a study by Forex Suggest, which analyzes the impact of cryptocurrencies on the real estate market, Spain is the country in the world with the most properties available to buy with cryptocurrencies. Thousands of properties listed on the Spain Homes website are suitable for payment with cryptocurrencies.
Javier García de la Torre, Director of Binance Spain and Portugal, points out: "As digital currencies gain greater acceptance, a collaboration like this represents an important step forward, showing the practical application of cryptocurrencies as a means of payment. Spain is one of the most attractive European countries for purchasing a home, whether as a permanent residence or as a vacation destination. This initiative not only accelerates the real estate transaction process, but also opens the door to the accessibility of the global market, especially beneficial for. international buyers in Spain."
Digital currencies have become an increasingly popular investment option, however, they also have great utility as a means of payment. As their popularity rises, as does mass adoption, cryptocurrencies such as Bitcoin or Ethereum can also be used to purchase everyday goods and services.
Pakning Leuk, Director of Binance Pay, comments: "Our globally recognized and easy-to-use payment system ensures a transparent and secure transaction process using blockchain technology. With Spain Homes adopting Binance Pay for online property sales "Buyers and sellers can benefit from cryptocurrency transactions, offering a more agile alternative to traditional processes, eliminating the need for additional fees, intermediaries and geographic barriers."
Binance Pay, powered by Binance, offers an easy-to-use, globally recognized wallet and payment system, ensuring a seamless and transparent cryptocurrency transaction experience.
Using Blockchain technology, the collaboration ensures secure and transparent transactions, maintaining an immutable, tamper-proof record of the transaction.
How to buy a property with cryptocurrency through Spain Homes
Using cryptocurrency to buy property in Spain through Spain Homes and Binance Pay is a simple process designed for complete security and convenience. Furthermore, this method is fully compatible with local regulations, ensuring compliance with all legal requirements.
Interested buyers can initiate a consultation with Spain Homes and discuss their preferences with an experienced agent. After this first phase, they will undergo a “Know Your Customer” (KYC) process by submitting the necessary documents. This will be followed by an anti-money laundering (AML) check, which involves a meeting with Spain Homes' legal team to verify income, wallet address and previous cryptocurrency transactions. Once verification is completed, a power of attorney is granted for Spain Homes to proceed on behalf of the client. Their team of experts then handles the compliance process and once completed, the client transfers the agreed amount to an escrow account. Spain Homes, with power of attorney, signs the reservation and private purchase forms, facilitating the transfer of funds to the seller and later, the company organizes the appointment with the notary, where the remaining payment, taxes and fees can be settled from the escrow account, culminating in obtaining the Property Deed for the buyer and payment in Fiat currency for the seller.
About Spain Homes:
Spain Homes is the local brand of TEKCE Real Estate, an international real estate company with a global presence. Spain Homes has a team of local experts dedicated to guiding clients to find the perfect homes in Spain. This crypto-friendly agency specializes in various types of properties, including apartments, villas, townhouses, commercial properties and land, among others. Spain Homes helps clients throughout the entire process, from searching for the ideal property to obtaining the deed and moving.
Risk Warning: The information contained in this article should not be construed as financial or investment advice. Please do your own research. NFTs are not regulated in most countries, however, please make sure you are allowed to access our Binance NFT Marketplace based on your circumstances. For more details, please see the Binance NFT Terms and Conditions, our Terms of Use and Risk Warning.
source: Territorioblockchain.com
