RAK Properties, a publicly listed real estate developer in Ras Al Khaimah, has announced a partnership with Hubpay, an ADGM-regulated fintech company, to enable international clients to purchase property using cryptocurrencies.
Under the new agreement, buyers can use popular cryptocurrencies such as USDT, Bitcoin (BTC), and Ethereum (ETH) to purchase property. These payments will be processed through Hubpay’s regulated platform, which will convert the digital assets into UAE dirhams and settle them directly into RAK Properties’ account.
RAK Properties will not handle any digital assets directly. Instead, all transactions will be processed through Hubpay and its VARA-licensed partners, ensuring compliance and security for high-value transactions.
Expanding reach to digitally active investors
This initiative applies to RAK Properties’ developments, including the Mina community, and is designed to broaden the developer’s reach among digitally active investors. The partnership also aligns with RAK Properties’ strategy to make investment in Ras Al Khaimah easier and more attractive to a global clientele.
By enabling and supporting the use of digital assets and engaging with a new ecosystem of investment-savvy customers while strengthening RAK Properties’ status as a forward-thinking and trusted master developer.
Supporting Ras Al Khaimah’s Vision 2030
The new payment option is part of Ras Al Khaimah’s Vision 2030, a strategy aimed at increasing the emirate’s international appeal and economic diversification. By embracing digital payments, RAK Properties is aligning with the broader vision of modernizing the region’s economy and attracting new investors.
As part of its 20th anniversary celebrations, RAK Properties is set to deliver more than 800 units at Mina by the end of the year. This partnership with Hubpay marks a significant step in the company’s efforts to attract a new class of global buyers and enhance its international presence.