RAK Properties, the publicly traded real estate giant from Ras Al Khaimah in the UAE, has announced it will begin accepting cryptocurrencies for property deals. Payments can be made in Bitcoin, Ether, Tether and select others.
The company has partnered with Hubpay, a regional payments provider, to handle the transactions. Hubpay will convert crypto into UAE dirhams before depositing funds into RAK’s accounts, ensuring regulatory compliance and smooth settlement.
RAK Properties has been listed on the Abu Dhabi Securities Exchange since 2005 and carries a market cap of about $1.3 billion. Its net profit surged 39% in 2024 to 281 million dirhams. In 2025, it plans 12 new projects across the emirate, though portfolio details remain undisclosed.
The initiative reflects the UAE’s increasing adoption of digital assets, a sector projected to become one of the largest contributors to the economy. Ras Al Khaimah’s forward stance could help position the emirate as a hub for crypto-powered real estate.
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