DAMAC Properties, one of the largest luxury real estate developers in Dubai, will start accepting cryptocurrencies. The company’s customers will be able to use Bitcoin and Ethereum as means of payment.

According to the statement, the move stems from the company’s desire to use modern technology to deliver innovative solutions. The company believes that the integration of cryptocurrencies as one of the payment methods will allow it to expand the pool of investor opportunities.

“The shift from customers to accepting cryptocurrencies is one of our initiatives to accelerate the development of the new economy and the future of our industry for the next generation. […] “It is exciting to offer another way to run transactions and we are delighted to recognize the value of this technology to our customers,” said Ali Sajwani, Chief Operating Officer of DAMAC Properties.

According to DAMAC Properties’ own data, as of June 30, 2021, the company has delivered 39,400 properties and 28,000 are under construction or planning.

Recall that Kiss bassist Gene Simmons put a Las Vegas home up for sale for $13.5 million in February with the option to pay with digital assets.