Colombia Makes Its First Bitcoin Real Estate Purchase

Colombia Registers First Real Estate Purchase With Bitcoin

Colombia Debuts Real Estate Purchases With Crypto – Colombia’s real estate sector has hit a watershed moment in terms of cryptocurrency adoption, having made its first bitcoin purchase. After receiving a 0.03 BTC reserve payment a month ago, La Haus, an online real estate company, mediated this acquisition. The transaction was performed utilizing Lightning Network through Opennode, a payment processor, because the buyer was not in Colombia at the time.

The purchase comes roughly one month after the company announced it would accept bitcoin for reservations and payments for each one of the apartments in Natura City, a development located in Santa Marta with 160 units ready to be sold.

Crypto for Real Estate Payments

Executives at La Haus stated that they are working to expand and use these payments for developments all across the country. On this, Jehudi Castro, La Haus’ vice president of future and innovation stated:

The fact that this type of transaction has taken only a month to be carried out in Colombia speaks of the unsatisfied need that existed. We are working to bring this type of alternative to the rest of the country, so that the payment methods and the way of investment, are not a barrier to access residential property.

However, this is not the first time that La Haus has completed a cryptocurrency-based purchase. The company, which also has operations in Mexico, registered its first crypto purchase in January when a property in Mexico was acquired by a woman living in Peru.

In Latam countries like Venezuela, where automobiles and some properties are sold for USDT, cryptocurrency purchases in the real estate sector are becoming increasingly frequent. One of these transactions took place last year in a coastal state of the country, where a buyer used USDT to purchase an apartment for $12,000.

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