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Chinese Home Buyers Can Now Use Bitcoin In London

The United Kingdom is now an option for bitcoin-holding Chinese citizens who are looking to make an investment in real estate. According to a recent Coin Telegraph article, the London-based company Cai-Capital announced that it is the first broker in the London to accept bitcoin payments for real estate purchases.

Cai-Capital Chairman and Managing Director Richard Mathieson explained to the news source that China’s currency restriction is one of the main reasons why his company believed that it would be a large market.

China currently comprises of approximately 10 percent of the world’s bitcoin market. However, Cai-Capital executives said that they are already have two interested buyers from Hong Kong who are interested in purchasing London properties in London with the digital currency.

Cai-Capital Director Keith Stukins told the news source that his company offers customers a great bitcoin investment opportunity to acquire prime real estate overseas.

“The bitcoins would be converted through the Acquire CC Exchange, which is registered in the Channel Islands,” he said. “Developers would not receive Bitcoin but would take the converted currency – in this case, pounds.”

“What’s Hot” is aggregated content. PYMNTS.com claims no responsibility for the accuracy of the content published by the original source.

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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