United Arab Emirates (UAE) real estate giant Damac Properties announced that it has added Bitcoin (BTC) and Ethereum (ETH) as new payment options.
The company’s managing director, Ali Sajwani, stated that the Dubai-based company has embraced crypto as part of its digital transformation efforts.
The company will also invest $100 million in a new metaverse project aimed at building virtual cities.
Founded in 2002, Damac operates in many countries including the United Kingdom, Oman and Saudi Arabia. The company announced last year that it had revenue of $816.8 million.
The company was acquired by billionaire Huseyin Sajwani’s Maple Invest Co Liöited company last November.
Dubai is fast becoming one of the largest cryptocurrency centers in the world.
The world’s largest cryptocurrency exchange, Binance, has recently received a license from Dubai. Like Binance, FTX and other exchanges accelerated their efforts to operate in Dubai.
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