Key facts
- Elite International Realty partnered with CryptEscrow to enhance its crypto real estate capabilities.
- The collaboration aims to simplify the process of converting digital assets into U.S. dollars for luxury property purchases.
- Elite International Realty has already completed more than $30 million in crypto-backed real estate transactions.
- Clients using the new service will incur a 1% fee, which is noted as being lower than many traditional services.
- The partnership is designed to cater to growing demand from affluent investors who own cryptocurrency.
Elite International Realty has partnered with cryptocurrency escrow provider CryptEscrow to expand its crypto real estate capabilities, responding to growing demand from luxury and international buyers seeking to use digital assets to purchase property.
The Miami-based brokerage stated the partnership enhances its Crypto by Elite division and provides buyers with a streamlined process for converting cryptocurrency into U.S. dollars for real estate transactions.
Elite International Realty has facilitated more than $30 million in crypto-backed real estate transactions to date. The announcement comes as cryptocurrency ownership continues to grow among affluent investors, with the company reporting that 71% of high-net-worth individuals globally have invested in digital assets, and an estimated 68% of U.S. millionaires own cryptocurrency.
"While our team has extensive experience facilitating these transactions, this partnership with CryptEscrow creates even greater opportunities for domestic and international buyers looking to invest in luxury real estate," said Daniel Ickowicz, CEO of Elite International Realty.
CryptEscrow is a federally and state-licensed cryptocurrency escrow provider that specializes in converting digital assets into U.S. dollars for luxury real estate purchases. Through the partnership, Elite International Realty clients using the platform will pay a 1% fee, which the companies say is lower than many traditional crypto conversion and escrow services.
Elite International Realty, headquartered in Aventura, Florida, specializes in luxury, residential, and commercial real estate throughout south Florida, having completed more than 10,000 transactions totaling more than $6 billion in sales volume.