Domestic and Foreign Buyers Acquired a ‘Tokenized’ Apartment in a Spanish City by Paying With Ethereum

Mar 26, 2021 | Bitcoin News | 0 comments


National and foreign buyers acquired a “tokenized” apartment in Spain with ethereum, which involved a domestic crypto exchange and a real estate investment firm. The city of Sevilla was the scenario for the crypto deal between the parties.

Transaction Was Worth Over $64,000

According to El Correo Web, the Spanish crypto exchange Criptan and the investment firm Rental IT arranged the transaction of the property, tokenized by the real estate company.

The media outlet specified the tokenization — split into several tokens and digitalized through a blockchain — was done to target 32 investors from Spain, Argentina, and Mexico. With the acquisition, the buyers that disbursed their funds paying with ethereum (ETH) participated in the investment starting from 100 euros ($117).

Afterward, Rental IT exchanged the cryptos into fiat (euros) and then purchased the property from the owner. The transaction was reportedly worth 54,773 euros ($64,430), said El Correo Web. Jorge Soriano, the cofounder of Criptan, commented on the transaction:

It is the start for small savers to access a sector that until now has been difficult to access if it was not in your own country and eliminate excess bureaucracy. In addition to confirming the total security that exists behind these transactions through blockchain technology.

In the same line, Eric Sánchez, Rental IT’s CEO, believes such transactions pave the way for other brokers to sell real estate and other goods via crypto. Moreover, he forecasts that in ten years, the real estate sector could shift towards such adoption.

Crypto Real Estate on the Rise in the Iberian Peninsula

Crypto real estate’s boom in Spain has been making the headlines in the last few months, despite the coronavirus pandemic. News reported early in March that Piso Barato Inmobiliaria, a Tenerife-based real estate firm, has enabled the feature that allows customers to acquire properties by paying with bitcoin (BTC).

Also, another Spanish real estate platform, Idealista, listed in February its first-ever property for sale for cryptocurrency — an apartment located in the center of Barcelona.

What do you think about this transaction involving a “tokenized” apartment? Let us know in the comments section below.

News Source from

Related Articles

South African Crypto Platform Revix Raises $4.1 Million

South African Crypto Platform Revix Raises $4.1 Million

The South African cryptocurrency investment platform, Revix, has reportedly raised about $4.1 million from its latest capital raise round. According to the firm, part of the raised capital will be used “to launch Revix’s mobile application, a variety of Fourth...

PayPal’s Venmo now allows users to buy and sell crypto

PayPal’s Venmo now allows users to buy and sell crypto

PayPal's social payment arm Venmo has officially launched the service to let its users buy, hold and sell crypto assets within its mobile app. The company said in an announcement that the service, called "Crypto on Venmo," starts to roll out on Tuesday and will be...

Former currency comptroller to become CEO of Binance US crypto exchange

Former currency comptroller to become CEO of Binance US crypto exchange

Former top U.S. banking regulator Brian Brooks is joining the U.S. affiliate of the world’s largest cryptocurrency exchange as its new CEO. Brian Brooks, the former acting comptroller of the currency of the United States Office of the Comptroller of the Currency, is...

Pin It on Pinterest

Share This