Canadian real estate developer Ray Junior Courtemanche has announced that his company, SKYBLÜ Condos Cité Mirabel, will now accept cryptocurrency payments for condos.
In a press release on July 13, the developer stated that the need to integrate crypto was necessitated by the increasing number of customers leveraging digital currencies for transactions.
Despite the ongoing bear market, Courtemanche stated that it is the right time to integrate cryptocurrencies as a payment option. The use of crypto payments will affect customers from Canada and globally.
“More and more people are turning to cryptocurrency. I was just waiting for a simple and effective way to be able to accept crypto, and today, the solution exists and it’s from Quebec! At this point, I was sold on that idea,” said Courtemanche.
Advantages of crypto payments
Courtemanche noted that crypto payments come with added advantages compared to traditional payment options citing benefits like secure and reliable transactions.
Additionally, he pointed out that the elimination of middlemen in crypto transactions will likely inspire more people to adopt different assets.
The payment will be supported by the Dello POS system that enables crypto payments with business owners receiving a settlement in cash.
In recent months, the number of real estate developers accepting crypto payments has soared, driven by the growing utilisation of digital assets as a settlement option. Finbold reported that Maltese property company Dreamflats announced plans to accept rental contract payments in Cardano (ADA) for the upcoming Zaha Hadid Architects’ Mercury Towers building.
However, the market correction experienced since the start of 2022 has impacted the number of developers willing to accept crypto. Analysts indicate that the use of cryptocurrencies like Bitcoin in real estate has stalled due to the dropping value of different assets.