Leading developer in Dubai will be able to accept payments in cryptocurrencies

Recently, one of the companies, which is the most popular developer in the United Arab Emirates, announced the cryptocurrencies in which it will be able to accept payments. Thus, residents will be able to purchase housing from MAG in BTC, USDT, Ethereum, USDC, XRP, Litecoin, Bitcoin Cash, Chainlink, Uniswap, Compound, Chiliz, Fantom Token, AAVE, Avalanche, Maker, Yearn Finance, Polygon (MATIC), The Sandbox, Stellar and ESO.

MAG Group also announced that they will launch a new exclusive luxury residential complex Keturah Reserve. Its cost to the developer was AED 3,000,000,000 (~$816,882,210). The complex will be built in Meydan, a residential area that can safely be called one of the most sought after in the city of Dubai.

Keturah Reserve will consist of super-houses, which will include villas and apartments. The complex will belong to the elite real estate and hotel business Keturah.

For the United Arab Emirates, the adoption of cryptocurrencies is nothing new. Previously, the authorities in every possible way showed their support towards an unusual art form, NFT tokens.

Recently, we discussed in our blog regarding the question “Can the United Arab Emirates be called the center of NFT culture?”. If you missed this material, then we invite you to familiarize yourself with it.

Regarding the adoption of cryptocurrencies and the development of the industry as a whole in the UAE, significant activities and developments related to this have been noticed in the country. For example, at the beginning of 2023, an exhibition of NFT paintings will be held. The event will be attended by over 100 art dealers. It is worth mentioning that last year, on the occasion of the 50th anniversary of the UAE National Day, non-fungible tokens were issued by the postal company.

In addition, the airline of the United Arab Emirates announced the creation of the metaverse and announced that the development of it is already underway and in the near future the creators will be able to show the fruits of their labors.

Considering that MAG Group will now also allow customers to pay in XRP, one can notice an improvement in the level of cryptocurrency adoption in the United Arab Emirates.