RAK Properties will accept cryptocurrency for international property purchases, allowing payments in Bitcoin (BTC), Ether (ETH) and USDT, with payments processed and converted to UAE dirhams by Hubpay to settle into RAK’s accounts, signalling deeper UAE crypto adoption.
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RAK Properties accepts BTC, ETH and USDT for international property transactions
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Hubpay converts crypto to UAE dirhams before deposit to RAK’s bank accounts
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RAK Properties has 4.7 billion dirhams market cap; 2024 net profit rose 39% to 281 million dirhams
RAK Properties crypto payments: RAK accepts BTC, ETH and USDT for international transactions — learn how payments are processed and what this means for UAE crypto adoption.
What is RAK Properties’ new crypto payment policy?
RAK Properties crypto payments allow international buyers to pay in Bitcoin, Ether and USDT for property purchases, with Hubpay converting digital assets into UAE dirhams and depositing cleared funds into RAK’s accounts. The policy expands payment options for cross-border investors and formalizes crypto acceptance in Ras Al Khaimah.
How will RAK Properties process cryptocurrency payments?
RAK Properties will use Hubpay, a global payments platform, to handle crypto receipts. Hubpay will receive the digital asset, perform fiat conversion into UAE dirhams and transfer settled funds to RAK’s corporate accounts. This model reduces price volatility risk for the developer and simplifies compliance for buyers.
The United Arab Emirates has become a hot spot for the crypto industry as clear regulatory frameworks and no tax on crypto profits has driven interest in digital assets.
RAK Properties, one of the largest publicly traded real estate companies in Ras Al Khaimah, UAE, announced it will accept cryptocurrency for international property transactions. Accepted currencies include Bitcoin (BTC), Ether (ETH) and Tether USDt (USDT).
The move reflects broader UAE crypto adoption, where regulators and free zones have created permissive frameworks that attract Web3 businesses and investors. Industry observers expect digital assets to become a major sector for the country in coming years, supporting real estate, payments and investment flows.
Ras Al Khaimah is the UAE’s fourth-largest emirate by area and has a population of roughly 400,000. RAK Properties has been listed on the Abu Dhabi Securities Exchange since 2005 and carries a market capitalization of 4.7 billion dirhams, per TradingView. The company reported a 39% year-over-year net profit increase in 2024, rising to 281 million dirhams from 202 million dirhams in 2023.
Crypto transactions for RAK Properties will be processed by Hubpay, which will execute the conversion to UAE dirhams prior to deposit. This custodial conversion reduces the developer’s exposure to crypto price volatility and aligns settlement with banking infrastructure.
Chainalysis data shows UAE crypto activity has expanded across transaction sizes, with small retail transactions increasing by over 75% year-over-year as of June 2024. Public and private sector initiatives in the UAE continue to support crypto infrastructure and payment innovation.
UAE year-over-year growth in value by transfer size. Source: Chainalysis
Related: Dubai and UAE move to align crypto frameworks under new partnership
Why does accepting crypto matter for real estate buyers and developers?
Accepting cryptocurrency widens the buyer pool to international investors who prefer digital-asset settlement. For developers like RAK Properties, allowing crypto payments can speed cross-border transactions, reduce FX friction and tap demand from crypto-native purchasers.
What are the risks and safeguards?
Key risks include regulatory compliance, AML/KYC requirements and volatility. RAK mitigates volatility by using Hubpay to convert crypto to dirhams immediately. Regulatory and compliance controls remain the responsibility of the payments processor and the developer’s compliance team.
Frequently Asked Questions
Can international buyers pay in crypto for UAE properties?
Yes. RAK Properties now accepts Bitcoin, Ether and USDT for international property transactions, with payments converted to AED by Hubpay before settlement.
Will RAK Properties hold crypto on its balance sheet?
No. RAK Properties uses Hubpay to convert crypto into UAE dirhams before funds are deposited, so the developer does not retain crypto volatility on its balance sheet.
Which cryptocurrencies are accepted by RAK Properties?
Accepted cryptocurrencies include Bitcoin (BTC), Ether (ETH) and Tether USDt (USDT) as announced by RAK Properties.
Key Takeaways
- Broader payment options: RAK Properties now accepts BTC, ETH and USDT for international purchases.
- Conversion safeguard: Hubpay converts crypto to UAE dirhams to eliminate volatility risk for the developer.
- UAE momentum: Growing crypto activity and clear frameworks are accelerating adoption in the UAE market.
Conclusion
RAK Properties’ acceptance of cryptocurrency for international transactions signals a pragmatic step toward integrating digital assets into UAE real estate. By partnering with Hubpay for instant conversion to UAE dirhams, RAK reduces exposure to volatility while opening its market to crypto-native investors. Expect continued growth in UAE crypto adoption and more real estate firms exploring similar payment options.
