RAK Properties, a major real estate company in Ras Al Khaimah, UAE, has announced it will accept cryptocurrency, including Bitcoin, Ether, and Tether, for international property transactions. This move reflects the UAE's increasing embrace of digital assets, capitalizing on its regulatory frameworks and absence of tax on crypto profits. Payments will be processed by Hubpay, which will convert the cryptocurrencies into the local fiat currency. This initiative aims to attract a digitally savvy customer base and signifies RAK Properties' commitment to engaging with evolving financial ecosystems. Founded in 2005, RAK Properties is listed on the Abu Dhabi Securities Exchange and has experienced significant growth, reporting a 39% increase in net profit in 2024. The company plans to expand its portfolio with 12 new projects in 2025 as demand for crypto transactions rises in the region, which has seen retail crypto activity grow significantly in recent years.

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