Shiba Inu’s utility may be increased once more if people can use the cryptocurrency to purchase real estate properties from Gafisa.
Gafisa, a Brazilian home builder, now accepts cryptocurrency as a payment method to purchase its real estate properties, thanks to a partnership with Latin American cryptocurrency payment provider and exchange Foxbit.
The Purpose of Shiba Inu Adoption
According to a press release, Gafisa chose the nascent asset class as a payment method because it eliminates the intermediaries involved in the traditional payment sector, allowing customers to pay for properties directly without much hassle.
Furthermore, Foxbit stated that one of the reasons the real estate developer decided to accept cryptocurrency as a payment method is the benefits associated with cryptocurrency. Cryptocurrency provides fast, low-cost transactions and better cost benefits for commerce and eliminates payment-related fraud.
The disruptive nature of cryptocurrencies, according to Foxbit, was one of the reasons Gafisa chose crypto as a payment method.
Guilherme Benevides, CEO of Gafisa Incorporadora e Construtora São Paulo, commented on the development:
“Cryptocurrency is growing in popularity every day, also expanding the possibilities of its use. There is a natural tendency to digitize payments.”
Foxbit Coin Offering
Gafisa can now receive over 40 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Shiba Inu.
Foxbit is dedicated to assisting Latin American businesses in accepting cryptocurrency payments for their goods and services.
Since its inception, the payment provider has added over 40 cryptocurrencies, which traders in the region can either trade on the Foxbit exchange or use to purchase goods and services from businesses with which the company has partnered.
Foxbit pay says:
“Foxbit Pay is a solution that allows businesses and online stores to receive their payments in cryptocurrencies, whether bitcoin or one of the other 40 currencies listed on Foxbit’s exchange.”
As previously reported, Shiba Inu was added to Foxbit’s list of supported cryptocurrencies in February 2022. Any business that partners with Foxbit can accept Shiba Inu as a payment method and the 40 other cryptocurrencies supported by the Brazilian payment service provider.
Gafisa Controls the Brazilian Real Estate Market
Meanwhile, Gafisa is a pioneer in Brazilian real estate development. The company provides a variety of properties such as land, residential houses, commercial hubs, and hotels.
Since its inception, the real estate developer has experienced phenomenal growth. According to Gafisa data, the company’s real estate properties house at least one out of every 130 Brazilians.