Buyers can now purchase units in the Mina beachfront community using USDT, BTC, ETH, and more, converted seamlessly into AED.
RAK Properties, Ras Al Khaimah’s publicly listed real estate developer, has announced their partnership with fintech firm Hubpay to allow property purchases with cryptocurrency. The initiative, announced as part of the company’s 20th anniversary, enables international buyers to pay with major digital assets such as USDT, BTC, and ETH.
The collaboration integrates Hubpay’s ADGM-regulated payment infrastructure, which converts digital assets into UAE dirhams and settles them directly into RAK Properties’ accounts. The company emphasized that it will not directly handle cryptocurrencies, with all transactions routed through Hubpay and its VARA-licensed partners to ensure compliance and security.
“Our new partnership with Hubpay is another step forward with our strategy of innovation and accessibility” said Rahul Jogani, CFO of RAK Properties. “By enabling and supporting the use of digital assets, we are engaging with a new ecosystem of digitally and investment-savvy customers while strengthening our position as a trusted master developer.”
Kevin Kilty, CEO of Hubpay, said the partnership enables RAK Properties to tap into a new class of global investors. “Our regulated solution provides the trust and infrastructure for high-value transactions, ensuring the process is secure, compliant, and seamless” he said.
The service is initially available for the developer’s Mina beachfront community, which is under active construction with more than 800 units due for delivery before year-end. The project forms part of Ras Al Khaimah’s Vision 2030 strategy, aimed at attracting international investment and diversifying the emirate’s economy.
By expanding payment options to include digital assets, RAK Properties hopes to broaden the appeal of its developments and strengthen its position in a competitive Gulf real estate market.