RATE Group | Partnership to use Korean cryptocurrency for Dubai real estate
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Partnership to use Korean cryptocurrency for Dubai real estate

30 Dec Partnership to use Korean cryptocurrency for Dubai real estate

Posted at 19:06h in Cryptocurrency News by

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SEOUL, Dec. 30 (UPI) — A South Korean blockchain company and a Dubai real estate firm have announced a partnership to allow buyers to use cryptocurrency.

The agreement, announced Friday between Bloom Technology and Arms &McGregor International Realty, will allow the purchase of real estate in Dubai mainly through the use of the Locus token, the virtual money issued by Bloom.

The firms also plan to cooperate on a global real estate platform.

Bloom Technology CEO Lee Sang-youn said the company’s clients will be able to save remittance charges in purchasing real estate in Dubai.

“We are facing the new era where many industries transition to digital platform integration and tech adoption at a transactional level,” he said.

“And we believe that the real estate business shall be advanced with digital platform use also in a perfect marriage between fin-tech and prop-tech.”

In the long run, Lee expects the blockchain-based platform to make property transactions more transparent.

Real…

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