A new cryptocurrency real estate section has been formed by Christie’s International Real Estate. The department, headed by Aaron Kirman, is responsible for overseeing more than $1 billion worth of crypto-listed assets. As a result, Christie’s is the first big brokerage to formally establish a section devoted to cryptocurrency.
The New York Times reports that Aaron Kirman, who is also the manager of Christie’s operations in Southern California, is in charge of the crypto branch of the firm. A few of Kirman’s crypto real estate transactions have already closed. A $65 million Beverly Hills estate was one such deal that went through solely via the use of cryptocurrencies. This strategy will now be extended to a portfolio of high-value properties by the new division.
Targeting Affluent Crypto Investors
Listed properties for cryptocurrency payments are reportedly worth more than $1 billion. Among them are the Nightingale property in Beverly Hills, valued at $63 million, and the Bel Air mansion La Fin, valued at $118 million. The Invisible House in Joshua Tree is another property that can be purchased for $18 million in cryptocurrencies.
Banks are no longer necessary for buyers and sellers to finalize transactions. Assets based on the blockchain are used to process all transactions. To guarantee the safety of every deal, Christie’s has put together a team of lawyers and crypto compliance experts. Legal checks on the sources of money are robust, protecting vendors.
The New York Times reports that Christie’s Kirman stated the objective as helping affluent crypto investors who are looking to invest in real-world assets. Many of these customers would rather not deal with conventional banks because they place a high importance on privacy. LLCs backed completely by digital assets are now within their reach thanks to crypto.
Also changing is the landscape of cryptocurrency regulations. A bill to govern stablecoins was enacted into law by President Trump not long ago. In an effort to prevent regulatory excess, the Clarity Act was approved by the United States House of Representatives. There is increasing support from the mainstream, as seen by both developments.
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