Crypto.com, a global cryptocurrency exchange, has signed a memorandum of cooperation with the Dubai Land Department to explore the application of blockchain and digital currencies in the real estate sector.
Memorandum of Cooperation
The signing of the agreement took place in the presence of several officials and executives from both sides. The memorandum aims to develop a digital investment environment for virtual assets in real estate, aligning with Dubai's Real Estate Strategy 2033.
Support for Digital Real Estate Transactions
Crypto.com will support digital transactions in real estate using blockchain and digital currencies, which will enhance liquidity and modernization in the sector. The partnership aspires to create an integrated digital ecosystem for asset trading and execution of digital custody processes.
Initiation of Real Estate Tokenization
The PRYPCO Mint project has successfully completed two tokenized property listings. This initiative operates in conjunction with various government entities to establish a secure trading platform.
The collaboration between Crypto.com and the Dubai Land Department showcases a commitment to integrating new technologies in real estate, potentially leading to significant changes in investment and trading approaches.
