In a transformative leap for the real estate and cryptocurrency sectors, RAK Properties, one of the United Arab Emirates’ leading publicly traded real estate developers, has announced it will now accept Bitcoin (BTC), Ethereum (ETH), and Tether’s USDT for international property transactions. Unveiled on September 1, 2025, this bold initiative positions Ras Al Khaimah (RAK) as a pioneer in integrating digital assets into high-value real estate markets, signaling a new era of financial innovation in the UAE and reinforcing its ambition to become a global crypto hub by 2030.
A Strategic Move to Attract Global Investors
RAK Properties, with a market capitalization of 4.7 billion dirhams ($1.3 billion) and listed on the Abu Dhabi Securities Exchange since 2005, is capitalizing on the UAE’s progressive stance on digital assets to attract a new wave of tech-savvy, high-net-worth international investors. The company, known for its flagship Mina Al Arab waterfront community, has partnered with Hubpay, a UAE-based fintech regulated by the Abu Dhabi Global Market (ADGM) and the Virtual Assets Regulatory Authority (VARA). Hubpay’s platform seamlessly converts cryptocurrency payments into UAE dirhams (AED) before depositing them into RAK Properties’ accounts, ensuring compliance with the UAE Central Bank’s requirement that all transactions be settled in the national currency.
This move targets international buyers seeking to leverage their digital asset portfolios for premium real estate acquisitions. RAK Properties’ Chief Financial Officer, Rahul Jogani, emphasized the strategic intent: “By enabling and supporting the use of digital assets, we are engaging with a new ecosystem of digitally and investment-savvy customers.” The initiative primarily focuses on Mina Al Arab, where over 800 residential units are set for delivery by the end of 2025, featuring partnerships with luxury brands like Anantara and Nikki Beach. These high-end properties, priced in the millions, are ideal for crypto investors looking to diversify into stable, tangible assets.
Why Bitcoin, Ethereum, and USDT?
The decision to accept Bitcoin, Ethereum, and USDT reflects their prominence in the crypto market and their unique advantages for real estate transactions. Bitcoin, trading at $117,175.20 as of September 1, 2025, is the leading cryptocurrency by market cap ($2.31 trillion) and a preferred choice for high-value investments due to its global recognition and store-of-value status. Ethereum, with a market cap of $493 billion and trading at $4,102, is gaining traction for its smart contract capabilities, making it appealing for tech-driven investors. USDT, a stablecoin pegged to the U.S. dollar, offers price stability, mitigating the volatility risks of BTC and ETH, and is ideal for buyers seeking secure, predictable transactions.
Hubpay’s role is critical. The platform processes payments in these cryptocurrencies, converting them instantly to AED to minimize exchange rate risks. “Our regulated solution ensures high-value transactions are conducted securely and compliantly, providing peace of mind to international clients,” said Kevin Kilty, CEO of Hubpay. This infrastructure aligns with the UAE’s robust regulatory framework, with VARA and ADGM ensuring transparency and compliance, making Ras Al Khaimah a trusted destination for crypto-based investments.
UAE’s Crypto-Friendly Landscape
RAK Properties’ announcement is part of a broader wave of cryptocurrency adoption in the UAE. The country has emerged as a global leader in blockchain integration, driven by permissive regulations and no capital gains tax on crypto transactions. According to Chainalysis, UAE crypto activity grew across all transaction sizes, with small retail transactions surging 75% year-over-year as of June 2024. Dubai’s largest private developer, Damac Properties, began accepting Bitcoin and Ethereum in 2022, while the Dubai Land Department’s July 2025 partnership with Crypto.com enables digital real estate transactions. Even Emirates airline and Dubai Duty Free now accept BTC, ETH, and USDT for payments, reflecting the UAE’s push to mainstream digital assets.
Ras Al Khaimah, the UAE’s fourth-largest emirate with a population of 400,000, is aligning with this vision through its Vision 2030 strategy, which emphasizes innovation, foreign investment, and world-class infrastructure. RAK Properties’ crypto initiative supports this goal, positioning the emirate as a forward-thinking hub for real estate and tourism. The company’s 2024 financials bolster confidence, with net profits rising 39% to 281 million dirhams ($76.5 million) from 202 million dirhams in 2023, driven by strong demand for its 12 new projects planned for 2025.
Implications for Real Estate and Crypto Markets
The acceptance of cryptocurrencies by RAK Properties has far-reaching implications. For buyers, it offers unparalleled flexibility. Crypto transactions are faster—often settling in minutes compared to days for international wire transfers—and incur lower fees than traditional banking systems. Blockchain’s transparency ensures secure, auditable transactions, appealing to investors wary of fraud. For RAK Properties, the move opens access to a global pool of crypto-rich investors, particularly in markets like the U.S., Europe, and Asia, where 12% of U.S. millennials used BTC or ETH for home down payments in 2024.
The initiative also tightens the supply of Bitcoin, Ethereum, and USDT in circulation, as large transactions lock up tokens during conversion. With Bitcoin’s corporate treasury holdings already at 3% of its 21 million supply, and Solana treasuries holding 3.77 million $SOL ($770 million) as of August 2025, institutional demand is reshaping crypto market dynamics. RAK Properties’ move could inspire other developers globally, especially in crypto-friendly regions like Dubai, Thailand, and Portugal, where real estate tokenization and stablecoin payments are gaining traction.
Risks and Challenges
Despite the excitement, risks remain. Cryptocurrency volatility—Bitcoin dropped 5% in March 2025, and Ethereum has seen similar swings—could affect transaction values between payment and settlement. To mitigate this, RAK Properties and Hubpay fix exchange rates at the time of agreement, protecting both parties. Regulatory uncertainty, while minimal in the UAE, could pose challenges globally, and buyers must navigate KYC/AML checks and secure crypto wallets to ensure compliance. Additionally, the crypto market’s concentration among large holders raises concerns about liquidity if significant sell-offs occur.
A Vision for the Future
RAK Properties’ decision to accept Bitcoin, Ethereum, and USDT marks a turning point for real estate, blending the stability of property investment with the dynamism of digital assets. By targeting international investors and leveraging the UAE’s progressive regulatory environment, the company is not only diversifying payment options but also redefining how wealth is transacted in a globalized world. As Mina Al Arab’s luxury villas and waterfront residences attract crypto investors, Ras Al Khaimah is cementing its status as a hub for innovation.
This move could set a precedent for other developers, accelerating the convergence of real estate and blockchain. With the UAE projected to become the world’s second-largest crypto sector within five years, according to DeFi Technologies’ Chase Ergen, RAK Properties is at the forefront of a financial revolution. As more companies follow suit, the line between traditional and digital finance will blur, creating new opportunities for investors and reshaping the global property market.
Sources: Information compiled from Cointelegraph, Blockonomi, Gulf Business, Khaleej Times, and posts on X reflecting UAE crypto trends as of September 2, 2025.