RAK Properties, a major real estate company in the UAE's Ras Al Khaimah emirate, has announced it will accept cryptocurrency payments, including Bitcoin, Ethereum, and Tether, for property transactions. This move is part of the growing trend of crypto adoption in the UAE, where favorable regulations and the absence of taxes on crypto profits have spurred interest in digital assets. Transactions will be facilitated by Hubpay, converting the cryptocurrencies into the local currency, dirhams, before depositing into RAK's accounts. RAK Properties, listed on the Abu Dhabi Securities Exchange with a market cap of approximately $1.3 billion, is expanding its project portfolio in 2025, having reported a 39% increase in year-over-year net profit. The UAE continues to emerge as a key player in the crypto industry, with a significant rise in crypto activity noted over recent years, particularly among small retail transactions, showcasing a growing ecosystem of digitally savvy consumers.

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