News: 5.78 bitcoin buys real estate in Mexico

Latin American real estate platform La Haus has made its first home sale for bitcoin. It announced it would start accepting the currency as payment for property sales in Colombia and Mexico.

A Peruvian woman exchanged 5.78 bitcoins for an exclusive apartment. The location is in one of the most highly valued areas of the city of Tulum, Mexico's Riviera Maya, the company announced on Wednesday.

“One of the aspects that most seduced us when incorporating this payment method, was the possibility of breaking down geographical barriers,” Jehudi Castro, VP of innovation and future at La Haus, said. “This not only makes us proud, but also shows that the way we buy a home is changing. Not only do we do it digitally, breaking geographical barriers, but now we do it by breaking monetary boundaries.”

How it works

El Colombiano reported that there is no need to convert to fiat currency as the receiving party decided to keep the bitcoin. They made an exchange through Palais, a project carried out in Tulum by real estate developer Rivieralty. It partnered with La Haus to be able to sell the property for bitcoin.

La Haus said it expects to close the first home sale for bitcoins in Colombia in the coming weeks. As it expands the number of properties available for purchase with the new payment method there.

In November, La Haus announced it would like to start accepting bitcoin for its real estate sales through a partnership with payment processing provider OpenNode. It has now borne fruit as the company is able to receive bitcoins on-chain and on the Lightning Network.

“Real estate purchases are another perfect use case for Bitcoin. A global payment network designed to optimize the transfer of value,” said Kevin Adekayode. These words belog to OpenNode’s head of operations, when La Haus announced it would begin accepting payments in bitcoin. “We are delighted to work with La Haus, a forward-thinking company not content to settle for the status quo.”

Source: Nasdaq.com