Caruso, which is one of the biggest real estate companies in the United States of America, has now joined forces with cryptocurrency exchange Gemini to support crypto-based payments in their system.
Caruso has now purchased a significant amount of Bitcoin, through which it will allow residents to pay home rent using Bitcoin. This is a huge bonus for Bitcoin as it will promote even more real estate organizations to start accepting Bitcoin and other cryptocurrencies as payment options. This move from Caruso has no doubt contributed to the advancement of not only Bitcoin but also the whole crypto scene, bringing more new users and traders into the crypto space, uplifting the value and adoption rate.
According to an official announcement from Caruso, the organization has already invested in Bitcoin following the decision of implementation, making Caruso the first-ever real estate organization to include a cryptocurrency payment option for its residents. The investment was conducted through the crypto exchange Gemini. This helped both Caruso and Gemini to establish a respectable presence in the crypto space. Currently, residents are only allowed to pay rent using Bitcoin, but it won’t be long till the company allows the purchasing of land and pre-built homes using crypto as well.
Founder and CEO of Caruso, Rick Caruso, believes that cryptocurrency has the potential to become the main payment method around the world and that it is a wise decision to adapt into the asset as early as possible for a significant advantage over others, enabling the company to conduct massive amounts of real estate-based transactions easily, boosting the finances to the next level.
Responding to the pleasant remarks, CEO of Gemini, Tyler Winklevoss, said that Gemini is also extremely excited to join hands with Caruso in establishing a strong presence in the crypto market. The flexible payment option for residents will make transactions easier for everyone while also attracting many new potential residents and building a strong foundation for Gemini itself.
Bitcoin has seen massive adoption by many popular companies, organizations, and institutions. Earlier this year, popular electric car manufacturer Tesla also announced Bitcoin acceptance. UK-based Private Jet company released information that almost 20% of transactions were done using Bitcoin.
There are numerous other examples, but this shows that the crypto market will soon have a complete global presence as the adoption rate increases, making cryptocurrency the staple payment method instead of traditional currency.