UAE’s RAK Properties to Accept Bitcoin and Other Cryptos for Real Estate Transactions
RAK Properties will accept Bitcoin, Ether, and USDT for property sales, reinforcing the UAE’s role as a global crypto hub.
The United Arab Emirates continues to position itself as a global hub for digital assets, with one of its largest publicly traded developers, RAK Properties, announcing that it will begin accepting cryptocurrency for international property sales. The move reflects both the rising integration of digital assets into mainstream commerce and the UAE’s ambition to become a center for blockchain-driven industries.
According to the announcement, RAK Properties will accept Bitcoin, Ether, and Tether’s USDT, among other cryptocurrencies, as payment options. Transactions will be processed by Hubpay, a regional payments platform that will convert the digital assets into the local currency before depositing funds into the developer’s accounts. This approach mitigates volatility risks while expanding the company’s access to a digitally savvy client base.
“By enabling and supporting the use of digital assets, we are engaging with a new ecosystem of digitally and investment savvy customers,” said Rahul Jogani, Chief Financial Officer of RAK Properties. His remarks highlight the company’s strategic intent to capture a growing demographic of international investors who view crypto not just as an asset class but as a medium of exchange.
RAK Properties, headquartered in Ras Al Khaimah, has been listed on the Abu Dhabi Securities Exchange since 2005 and currently holds a market capitalization of 4.7 billion dirhams (about $1.3 billion). The developer is in expansion mode in 2025, with 12 projects in the pipeline. Last year, its net profit rose 39 percent, reaching 281 million dirhams (about $76.5 million), up from 202 million dirhams in 2023.
The emirate of Ras Al Khaimah, with a population of roughly 400,000, is increasingly aligning with the UAE’s national strategy to attract digital asset investment. Dubai and Abu Dhabi have already established comprehensive frameworks for virtual assets, drawing major exchanges, Web3 start-ups, and global investors to the region.
Broader adoption of crypto in the UAE is evident. Chainalysis data shows that activity across all transaction brackets has grown significantly in recent years, with small retail transactions alone increasing by more than 75 percent year-over-year as of mid-2024. Analysts predict that crypto could become the country’s second-largest economic sector within five years, reflecting the rapid pace of institutional and retail adoption.
By embracing crypto payments in real estate—a cornerstone sector in the UAE economy—RAK Properties is reinforcing the nation’s reputation as a frontier market for blockchain finance. The decision also illustrates how traditional industries are adjusting to the digital shift, leveraging regulation, infrastructure, and investor appetite to expand their global reach.
