High-net-worth investors in Europe have embraced buying European real estate through crypto assets.
AI Summary1 min read
TL;DR
High-net-worth investors in Europe are increasingly using cryptocurrencies, particularly Euro-pegged stablecoins, to purchase real estate, with over 100 transactions facilitated in countries like the UK and France.
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EuroUnioncryptocurrencyreal estatehigh-net-worth investorsstablecoinsEurope
According to Mars Finance, on January 11th, Nikolay Denisenko, co-founder of the cryptocurrency payment app Brighty, stated that hundreds of high-net-worth investors have used cryptocurrencies to purchase properties in Europe over the past year. The platform has facilitated over 100 transactions, primarily in the UK, France, Malta, Cyprus, and Andorra, with individual transaction amounts ranging from approximately $500,000 to $2.5 million. Previously, high-net-worth clients mostly used USDC issued by Circle; currently, to avoid exchange costs, an increasing number of clients are turning to stablecoins pegged to the Euro (such as EURC). (CoinDesk)