Colombian proptech La Haus continues to attract attention. This time around, it’s not just because of its top investors like Jeff Bezos, but because the company will now accept Bitcoin to invest in real estate projects in Mexico.
The project will begin in the Kahaal de La Haus real estate development which is underway in Playa del Carmen, Quintana Roo. However, the company expects this same investment choice can be replicated at a later date for its other 80,000 properties.
Why use Bitcoin for real estate developments?
We are seeing more and more use cases of Bitcoin in Latin America. First, the Mexican crypto exchange Bitso, which is used for remittances, became a unicorn a few months ago. Last June, El Salvador officially turned it into legal tender.
Even startups like Lemon are innovating in this direction. Lemon recently launched a “crypto card” in partnership with the payments giant Visa to enable international transactions with cashback in Bitcoin.
The Haus jumps into the trend with this announcement. It will accept Bitcoin to invest in real estate projects in Mexico using the Lightning network and the Bitcoin OpenNode processor.
The Colombian proptech stressed that it had decided to adopt Bitcoin as a means of payment for its investors because it “has experienced valuation growth close to 500% per year against the US dollar”.
As of this writing, Bitcoin has hit a new all-time high of $ 68,272.54 per unit and has a global market cap of $ 1,289,832,738,656, according to CoinMarketCap.
The cryptocurrency has had a strong run in recent months, hitting record highs almost daily.
The Haus also mentions that the cryptocurrency has been well received in Latin America as it has made it easier and more secure “to transact and invest, and it also tackles issues in the region like inflation and percentage. high number of unbanked and underserved by the banking system “.
To lead its Bitcoin-based investments, La Haus has appointed Jehudi Castro-Sierra as Vice President of the Future. Castro-Sierra is a former Presidential Advisor on Digital Transformation and Deputy Minister of Digital Economy. He had both roles under the current presidency of Ivan Duque.
The Haus behind the scenes
The proptech was founded in 2017 by Jerónimo and Tomás Uribe, sons of the former Colombian president Álvaro Uribe, as well as Rodrigo Sánchez-Ríos and Santiago García. To date, he has raised over $ 150 million.
The Haus is backed by renowned entrepreneurs and funds, including Jeff Bezos’ investment fund; Kaszek Enterprises; the founder of Nubank, David Vélez; Rappi’s co-founder, Simón Borrero; Greenspring Associates; Gabriel Gilinski, son of billionaire banker Jaime Gilinski, and Colombian singer Maluma.
The Haus will explore initiatives around Web3, tokenization and disintermediation, Castro-Sierra said. The company has a strong technological development activity, which enables the high-stakes activity of purchasing real estate from a mobile device.
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