Burj Khalifa’s Developer, Emaar, Adopts Bitcoin and Ethereum for Payments

March 29, 2022

Reading Time: 2 minutes

The most prominent real estate company in the United Arab Emirates, Emaar, has announced the integration of Bitcoin and Ethereum as means of payment.

The news came into circulation after news outlet Lovin Dubai disclosed a circular Emaar sent to its real estate agents throughout the county. The public announcement expressed pleasure in its new milestone of selling its properties using digital currencies. The transactions are expected to happen through one of the biggest cryptocurrencies around, Bitcoin Suisse, which is based and regulated in Switzerland.

Fun fact about Emaar, It is the master developer that built the tallest artificial structure, Burj Khalifa.

Excited as we are, it is key to note that Emaar has not explicitly announced the news yet- to the public at least. The most we know is that news outlet Lovin Dubai got a hint of this information from a Twitter handle @CoinzData, who had taken the below screenshot.

Burj Khalifa’s Developer

For reasons still unknown, @CoinzData took down the post later in the day.

Emaar is with no doubt one of the most prestigious real estate companies in the United Arab Emirates. In addition to spearheading the construction of Burj Khadija, Emaar also makes a kill by creating luxury properties and communities in the country.

For a good while, the company has arguably been rumored to accept cryptocurrencies as a means of payment. However, they have repeatedly dispelled those rumors and maintained that they only accept payment in US dollars or UAE dirhams.

Earlier this month, Dubai made headlines after creating a national regulatory body for cryptocurrencies. As it has been named, the virtual Assets Regulatory Authority (VARA).

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