Beautiful Virgin Islands

Monday, Oct 06, 2025

Real estate payments in cryptocurrency could become more popular in UAE

Real estate payments in cryptocurrency could become more popular in UAE

Real estate transactions involving cryptocurrency in Dubai and throughout the UAE could become more popular, with the region positioning itself as a digital money hub.
The UAE is becoming more of a base for innovative companies and individuals to set up shop, including those interested in cryptocurrencies, with a recently passed law making it even easier and more attractive for people to work with digital currencies in Dubai.

According to a recent report by accounting giant PwC, the UAE’s share in the global crypto market increased by 500 percent between July 2020 and June 2021 and there are reportedly more than 400 crypto businesses in the country.

“[I] think more people [will be] be moving over that are interested in that world and, obviously, they all need somewhere to live… or [want] to invest in properties,” Paul Kelly, Operations Director at Allsopp & Allsopp Real Estate told Al Arabiya English.

“I think as we go on over the next few years, there'll be an increase in demand [for paying for real estate with cryptocurrency],” he added.

“A crypto grows, as it is utilized by more people around the world, the number of use cases will grow and one of many use cases [is] real estate,” Kim Grauer Director of Research at Chainalysis – a platform that provides data on blockchain – the technology used to process and record crypto payments, told Al Arabiya English.

In March this year, UAE Vice President and Dubai Ruler Sheikh Mohammed bin Rashid set up new regulation in the emirate in a bid to make the UAE more attractive to people using virtual assets. The legal framework was established to protect investors and promote growth in the virtual asset industry, state press agency WAM reported at the time.

Sheikh Mohammed also announced that Dubai would set up a Virtual Asset Regulatory Authority that will work with the Central Bank of the UAE, which should make paying in crypto currencies easier and safer.

The UAE’s crypto hub Dubai doesn’t actually accept cryptocurrency payments for goods, which means that if a buyer wants to purchase something using digital money, they must go to a so-called exchange house which converts it into Fiat currency – such as UAE Dirhams, or US dollars. Crypto exchanges in the UAE include e-Toro, Coinbase, OKX and Binanace.

But despite this, in a sign that the country’s efforts to draw in crypto-based business is working, companies involved in crypto payments are still moving over to the UAE to set-up shop.

“We've heard of businesses [and] we've heard of businesspeople traveling and moving to UAE because of these favorable regulations,” Grauer said.

In March this year both Crypto.com and Bybit announced plans to open offices in Dubai. Crypto.com moved its regional headquarters to Dubai while Bybit moved its global headquarters to the emirate.

“Positioning itself as a global digital hub, authorities have been making efforts to transform its economy, embracing the latest fintech innovations while creating the necessary regulatory frameworks,” the company said in a blog at the time.

A survey from YouGov showed that 67 percent of EU residents are interested in investing into cryptocurrencies within the next five years and that UAE is one of the top markets globally where consumers say they trust cryptocurrencies.

“The UAE is one of the fastest growing crypto hotspots that we’re really paying close attention to chain analysis these days, especially within the Middle East region,” said Grauer.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Munich Airport Reopens After Second Drone Shutdown
France Names New Government Amid Political Crisis
Trump Stands Firm in Shutdown Showdown and Declares War on Drug Cartels — Turning Crisis into Opportunity
Surge of U.S. Billionaires Transforms London’s Peninsula Apartments into Ultra-Luxury Stronghold
Pro Europe and Anti-War Babiš Poised to Return to Power After Czech Parliamentary Vote
Jeff Bezos Calls AI Surge a ‘Good’ Bubble, Urges Focus on Lasting Innovation
Japan’s Ruling Party Chooses Sanae Takaichi, Clearing Path to First Female Prime Minister
Sean ‘Diddy’ Combs Sentenced to Fifty Months in Prison Following Prostitution Conviction
Taylor Swift’s ‘Showgirl’ Launch Extends Billion-Dollar Empire
Trump Administration Launches “TrumpRx” Plan to Enable Direct Drug Sales at Deep Discounts
Trump Announces Intention to Impose 100 Percent Tariff on Foreign-Made Films
Altman Says GPT-5 Already Outpaces Him, Warns AI Could Automate 40% of Work
Singapore and Hong Kong Vie to Dominate Asia’s Rising Gold Trade
Trump Organization Teams with Saudi Developer on $1 Billion Trump Plaza in Jeddah
Manhattan Sees Surge in Office-to-Housing Conversions, Highest Since 2008
Switzerland and U.S. Issue Joint Assurance Against Currency Manipulation
Electronic Arts to Be Taken Private in Historic $55 Billion Buyout
Thomas Jacob Sanford Named as Suspect in Deadly Michigan Church Shooting and Arson
Russian Research Vessel 'Yantar' Tracked Mapping Europe’s Subsea Cables, Raising Security Alarms
New York Man Arrested After On-Air Confession to 2017 Parents’ Murders
U.S. Defense Chief Orders Sudden Summit of Hundreds of Generals and Admirals
Global Cruise Industry Posts Dramatic Comeback with 34.6 Million Passengers in 2024
Trump Claims FBI Planted 274 Agents at Capitol Riot, Citing Unverified Reports
India: Internet Suspended in Bareilly Amid Communal Clashes Between Muslims and Hindus
Supreme Court Extends Freeze on Nearly $5 Billion in U.S. Foreign Aid at Trump’s Request
Archaeologists Recover Statues and Temples from 2,000-Year-Old Sunken City off Alexandria
China Deploys 2,000 Workers to Spain to Build Major EV Battery Factory, Raising European Dependence
Speed Takes Over: How Drive-Through Coffee Chains Are Rewriting U.S. Coffee Culture
U.S. Demands Brussels Scrutinize Digital Rules to Prevent Bias Against American Tech
Ringo Starr Champions Enduring Beatles Legacy While Debuting Las Vegas Art Show
Private Equity’s Fundraising Surge Triggers Concern of European Market Shake-Out
Colombian President Petro Vows to Mobilize Volunteers for Gaza and Joins List of Fighters
FBI Removes Agents Who Kneeled at 2020 Protest, Citing Breach of Professional Conduct
Trump Alleges ‘Triple Sabotage’ at United Nations After Escalator and Teleprompter Failures
Shock in France: 5 Years in Prison for Former President Nicolas Sarkozy
Tokyo’s Jimbōchō Named World’s Coolest Neighbourhood for 2025
European Officials Fear Trump May Shift Blame for Ukraine War onto EU
BNP Paribas Abandons Ban on 'Controversial Weapons' Financing Amid Europe’s Defence Push
Typhoon Ragasa Leaves Trail of Destruction Across East Asia Before Making Landfall in China
The Personality Rights Challenge in India’s AI Era
Big Banks Rebuild in Hong Kong as Deal Volume Surges
Italy Considers Freezing Retirement Age at 67 to Avert Scheduled Hike
Italian City to Impose Tax on Visiting Dogs Starting in 2026
Arnault Denounces Proposed Wealth Tax as Threat to French Economy
Study Finds No Safe Level of Alcohol for Dementia Risk
Denmark Investigates Drone Incursion, Does Not Rule Out Russian Involvement
Lilly CEO Warns UK Is ‘Worst Country in Europe’ for Drug Prices, Pulls Back Investment
Nigel Farage Emerges as Central Force in British Politics with Reform UK Surge
Disney Reinstates ‘Jimmy Kimmel Live!’ after Six-Day Suspension over Charlie Kirk Comments
U.S. Prosecutors Move to Break Up Google’s Advertising Monopoly
×