Once again, the crypto world and the real estate market are crossing paths, and this time it is happening in Québec, where a local businessman has decided to sell residential properties in exchange for cryptocurrency.
The “condominium project” SkyBlu Condos at Cité Mirabel will receive payments from crypto buyers to turn the income into fiat currency and transfer it into the group’s bank accounts. It is certainly not the only company in the international real estate business, and this is a good sign for the crypto world.
And so the real estate market is back in the news with yet another opening to cryptocurrencies.
The news is not a surprise, considering that we are familiar with several cases, especially in better times. What makes one think positively is the attitude of more or less structured companies toward the crypto field.
Despite the moment, Ray Junior Courtemanche, a Canadian real estate developer who owns more than forty companies, believes in investing in cryptocurrencies. Cité Mirabel, one of the largest real estate projects in Québec, is under his leadership and is expected to achieve a total value of more than two billion dollars. As an alternative to traditional payment options, Courtemanche pointed to crypto payments’ advantages such as security and reliability. The elimination of middlemen in crypto transactions will also likely lead to more people adopting different assets, according to him. The payment will be made via Dello POS system that supports crypto payments, with the business owner receiving a cash settlement.
“More and more people are turning to cryptocurrency. I was just waiting for a simple and effective way to be able to accept crypto, and today, the solution exists and it’s from Quebec! At this point, I was sold on that idea,” said Courtemanche.
The leader of SKYBLÜ Condos Cité Mirabel group says the new residential complex will be sold in cryptocurrency. He is not worried about what is happening in the markets, but his confidence is total towards crypto, especially considering that the properties for sale will be luxurious, so far from being cheap.
We know of charities accepting donations in Ethereum and Bitcoin, so this is all taking place in a land that has already shown some experience with mining and cryptocurrencies. On other occasions, crypto-friendly Canada has shown controversial attitudes, especially regarding GoFundMe. It was at that time that the government tried to freeze Bitcoin donations raised by the network to help support rioting truckers.
We can see from different perspectives and especially from different declinations how cryptocurrencies and the culture that supports them have become well-established in Canada. People are showing an inclination toward crypto and blockchain technology, even for businesses of a certain size as in the matter of buying and selling real estate.
Real estate deals are no longer new as we also wrote recently about Altar Peni putting his family home up for auction, in Auckland, New Zealand. At a time when cryptocurrencies were going down in value, and with real estate prices soaring the former cotton candy businessman seemed to have found the perfect moment to sell into Bitcoin and wait for its next revaluation.
All of that despite the market correction that started this year and impact it’s had on the crypto industry at large, or maybe even because of it for some.
Although, regardless of the current market situation, the continued increase in adoption of cryptocurrency across multiple industries shows that businesses are starting to get their feet wet, and the crypto / blockchain market still has a lot to offer once more industries start jumping in.