Jul 29, 2021 06:47 UTC
Jul 29, 2021 at 06:47 UTC
Unique Bitcoin-backed loan refinancing deal in California
Glen Oaks’ written agreement has created its 1st BTC-backed refinancing of a property in San Diego.
One of Southern California’s largest independent corporations, Glen Oaks written agreement, has declared its 1st property refinancing with a Bitcoin-backed loan.
The company declared that this can be the primary time a refinancing has been completed by Bitcoin as collateral. In July 28 announcement it more that it’s antecedently expedited variety of land transactions that used BTC because the sort of payment.
Glen Oaks Escrow , which started approved Bitcoin payments in 2018, views the group action as proof that Bitcoin’s worth proposition is changing into clearer to debtors and creditors. Company Chief operating Officer Joe Curtis commented:
“Seeing a lender use cryptocurrency for a finance shows us that this payment methodology is continuous to grow in however it’s used and who it’s utilized by.”
He also said that seeing the investor instead of the house client using BTC during a land group action “tells us that this technology has the potential to continue changing into a lot of outstanding, although it’s still thought of as our new industry.”
In another crypto connected land development, a Dogecoin aficionado from the U.S. state of Utah has offered a 10% discount on his property if the customer pays in DOGE.
On July 27, a local TV station said that the owner listed the $389,000 home purchasable and can settle for seven cryptocurrencies however prefers Dogecoin due to his belief the 10% discount would quickly be created up for by Dogecoin worth appreciation. Once applying the discount, the quantity of DOGE needed to form the acquisition would be around 1.7 million tokens at current costs.
Way back in 2017, Cointelegraph reported on the first-ever BTC land group transactions that occurred in Texas.
These 2 new stories are the newest positive developments within the land sector. On July 23, Cointelegraph reported that an increasing range of land corporations are accepting payments in cryptocurrency.
CEO and founding father of The Crypto Realty Group, Piper Moretti, told Cointelegraph that several consumers getting land with digital assets are taking loans out against their cryptocurrency, in order that they will still have the benefit of holding coins while putting the value to work.
In May, it had been said that consumers may even use Dogecoin to form a property purchase in Portugal. FNTX Capital Suisse partnered with Portugal-based property developer 355 Developments to supply condos for crypto within the capital, Lisbon.