Brazil’s real estate stalwart Gafisa has added Bitcoin [BTC] for transactions through a partnership with cryptocurrency gateway provider Foxbit according to a press release. The latest addition is set to cut third-party entities out of the real estate transaction process, thereby reducing costs.
Partner firm Foxbit stated that Bitcoin would reduce the costs of transactions with quick and final settlements while eliminating the risk of fraud and also being a part of the “disruptive technology would open up whole new opportunities for future growth.
As known, Brazil has always been one of the leading countries for the adoption of bitcoin.
In 2022, Chainalysis reported that Brazil was the largest cryptocurrency market in Latin America based on transaction volume, receiving nearly $91 billion worth of cryptocurrencies in the year-long period between July 2020 and June 2021.
Not only does Brazil rank number six in on-chain value transacted in a report by Chainalysis, but Gafisa houses 1 out of every 130 Brazilians, according to its internal data, thus enabling millions of its citizens to have access to the world’s dominant coin.
Guilherme Benevides, CEO of Gafisa stated,
“Bitcoin is the largest cryptocurrency in market value and, technologically, the most ballast currency in history. It is a currency that is growing in popularity every day, also expanding the possibilities of its use.”
Gafisa CEO says “Bitcoin follows a path of progression”
Benevides continued to explain that BTC follows a path of progression and with the explosion of the digital revolution globally, Gafisa feels digital payments will continue to garner an increasingly high level of presence in emerging economies.
There is a natural tendency to digitize payments,” Benevides explained. “If we stop to think that the Central Bank will launch the digital real in 2022, we can conclude that, in fact, digital is increasingly present in the world.”
Less than a month ago, the Brazilian Senate plenary approved a bill regulating crypto transactions, and then two weeks later the nation’s only stock exchange, B3, laid out plans to launch Bitcoin futures “in the next three to six months,” Chief Financial Officer André Milanez then said in an interview.