Pacaso the leading real estate network that assists people in purchasing and co-owning a second house, announced that it will begin taking cryptocurrencies as a payment option for ownership shares in second homes offered through its platform and
It also announced an additional $75 million in growth finance, increasing the total equity financing to more than $90 million. Furthermore, the company has received $1 billion in debt financing from major financial institutions.
Clients to Buy Ownership Shares
The company teamed with BitPay, a crypto payment service provider, to allow clients to buy ownership shares in second houses using digital assets. The company was valued at $1 billion just months after it launched in October 2020. In Q1, the company-maintained EBITDA profitability, indicating that it is on track to do so in the future.
As more crypto holders desire to spend and live their lives in crypto, we’re seeing more transactions for significant purchases like real estate. ‘With Pacaso, you may have a second home,” stated Stephen Pair, CEO of BitPay. The market potential for cryptocurrencies is enormous, with $55 billion predicted to be spent on cryptocurrency purchases in the next 12 months.
“Pacaso is like a bolt of lightning in a bottle”, Austin Allison, the company’s CEO, and co-founder, stated. People looking for a refuge, a place where they can congregate with friends and family, have responded positively to our objective to democratize second home ownership. Many people are now realizing their dream of owning a second home due to Pacaso’s revolutionary co-ownership model.
“A crypto payment option is a recurring topic in our talks with prospective buyers of second homes,” Austin Allison added. “Digital currencies and the blockchains that support them are seeing greater use across the real estate business.”
We’re happy to be able to answer to that demand and offer as many payment alternatives as possible to our clients as we grow worldwide and make second-home co-ownership more accessible to more individuals across the world.
A Complete Overview of Cryptocurrency Cloud Mining Platform – TopHash
9 Out of Every 10 Central Banks Around the World are Exploring CBDCs, Ripple Reports
XRP Is On Its Way to a Strong Comeback as Coin’s Rising Trading Volume Shows Growing Investor Interest
Research Uncovers Why XRP Is Japan’s Most Favored Cryptocurrency
XRP Falls to $0.47, as the SEC Strikes Back at Ripple
Recent Press Release
CGMD Miner’s Low-Cost Coin Mining : Spend Less, Earn More!
As more players enter the cryptocurrency space, mining becomes more complex and requires more computing power. As a result, many...
Will Arbitrum Reach $1? ARB Struggles, SPCT Offers Better Prospects
As the crypto market recovers from Bitcoin’s (BTC) recent crash, Arbitrum (ARB) is enhancing its network capabilities to improve its...
Cardano (ADA) Lags, Analysts Predict VC Spectra (SPCT) Will Outpace it
Cardano’s (ADA) price has suffered despite the launch of Cardano’s Project Catalyst Testnet on August 25. Even when the news...
SUI and Hedera (HBAR) Slump Ahead of Token Unlocks, VC Spectra (SPCT) Gains Users
Token unlocks in crypto are typically bearish signs due to basic supply and demand. Analysts will keenly observe how Sui...
While Polkadot (DOT) Pauses, VC Spectra (SPCT) Offers a 220% Potential Upside!
VC Spectra (SPCT), a rising blockchain for investments and asset management, has grown considerably in its ongoing presale. Meanwhile, Polkadot...