Major Brazilian Company Now Accepts Bitcoin, Ethereum, These Three Altcoins
Real estate company Gafisa is ushering in crypto adoption in the largest South American country Brazil.
Leading Brazilian real estate developer Gafisa has begun accepting #crypto for property sales. pic.twitter.com/ONlhlKWTqi
— CRYPTO?IRB (@crypto_birb) May 26, 2022
Major real estate development company Gafisa announced that it’s accepting cryptocurrency as payment. The company will use local Brazilian crypto exchange Foxbit to facilitate transactions.
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- “There is no way to conduct business without embracing crypto as a method of payment because, on top of offering an additional payment option for the buyer … the usage of the currency promotes the best for our customers,” said Guilherme Benevides, CEO of Gafisa.
- As part of their initiative, the company will accept Bitcoin, Ethereum, Cardano, Solana, and XRP. XRP was also recently added by an Argentinian bank, albeit only briefly — Argentina’s government stepped because of likely pressure from the IMF.
- Brazil, unlike Argentina, doesn’t face the same pressure from the IMF because of the size of its economy. In addition, Brazil has been very aggressive in adopting crypto. The country has introduced a code of self-regulation for crypto, as well as offered physically-backed Bitcoin spot ETFs.
- Gafisa is Brazil’s fourth-largest real estate development company. Its shares are currently trading in the $0.72 USD range. It’s almost doubled in price ($0.40 range as of Tuesday) since the company first announced it was accepting crypto.
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Text source: CryptosRus
