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Propy Launches Crypto Escrow Service with Coinbase for Real Estate Transactions Using Bitcoin, Ethereum, and USD Coin
Oct 24, 2024, 03:40 PM
Propy has launched a new Crypto Escrow Service in partnership with Coinbase, aimed at facilitating real estate transactions using cryptocurrency. The service allows for secure custody of Bitcoin (BTC), Ethereum (ETH), and USD Coin (USDC) during the closing process of property sales. This initiative is designed to streamline the purchasing process by minimizing early conversions and reducing exposure to market volatility. In 2021, 11.6% of first-time homebuyers utilized cryptocurrency for down payments, and industry experts predict that this new service could standardize the use of crypto in real estate transactions, making it easier for buyers to purchase homes without traditional brokers or property websites.
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