Brazilian developer Gafisa now accepts Bitcoin and other cryptocurrencies as payment for real estate transactions. The company has partnered with a cryptocurrency gateway provider known as Foxbit.
Gafisa, one of Brazil's largest real estate developers, now accepts Bitcoin as payment for property purchases, according to a press release from Foxbit, a cryptocurrency payment gateway provider, according to Bitcoin Magazine.
Foxbit stated that one of the reasons for integrating Gafisa with Bitcoin was to remove intermediaries such as banks, companies, and real estate agents, payment processors, or other involved parties. Bitcoin helps reduce the cost of transactions through fast and final settlement while eliminating the risk of fraud. The press release said that Gafisa's decision to adopt Bitcoin was also largely based on the disruptive nature of the technology, which could open up opportunities for further innovation in a growing sector.
Brazil has become one of the leading countries in Bitcoin adoption. The country ranks sixth in the value of on-chain transactions in the Chainalysis report. Gafisa houses one out of every 130 Brazilians, according to Gafisa data, making this a natural path of progression.
“Bitcoin is the largest cryptocurrency by market capitalization and the most technologically endowed currency in history. This is a currency whose popularity is growing every day, as well as expanding the possibilities of its use. There is a natural trend toward the digitization of payments. If we stop thinking that the Central Bank will launch a digital real in 2022, then we can conclude that, in fact, digital currencies are increasingly present in the world,” commented Guilherme Benevides, CEO of Gafisa Incorporadora e Construtora São Paulo.
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Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.