Major UAE Real Estate Developer RAK Properties to Accept Crypto Payments
In a significant move reflecting the UAE’s growing embrace of digital finance, RAK Properties, a leading real estate developer in Ras Al Khaimah, has announced it will begin accepting cryptocurrency payments for property purchases. The initiative comes through a new partnership with UAE-based fintech firm Hubpay, allowing international buyers to use Bitcoin, Ethereum, and Tether to acquire residential and commercial properties.
The partnership aims to attract young, digital-first investors and aligns with Ras Al Khaimah’s Vision 2030 — a strategic roadmap for economic diversification, foreign investment, and infrastructure growth. The move places RAK Properties among a select group of developers globally that accept digital assets for high-value real estate transactions.
“This initiative underscores the developer’s commitment to innovation and marks a new chapter in its 20-year journey,” said RAK Properties CFO Rahul Jogani. “By enabling the use of digital assets, we are engaging a new ecosystem of investment-savvy, digital-first clients.”
Hubpay, which is regulated by the Abu Dhabi Global Market (ADGM), ensures all transactions are compliant with UAE’s Virtual Assets Regulatory Authority (VARA) standards. Crypto payments made through Hubpay will be instantly converted into dirhams and settled directly into RAK Properties’ accounts, minimizing volatility risks and ensuring full regulatory oversight.
The introduction of crypto as a payment method is strategically timed with the ongoing expansion of Mina Al Arab, a major waterfront development in the emirate. Over 800 units are anticipated to be delivered by the end of this year, with digital asset payment channels opening access to high-net-worth global investors.
Hubpay CEO Kevin Kilty described the partnership as a “turning point” for crypto integration within the region’s property sector and highlighted that all transactions will remain under “high levels of regulatory oversight and security.”
This development arrives as the UAE accelerates efforts to establish itself as a regional hub for blockchain innovation and cryptocurrency finance. The country has emerged as a destination of choice for global crypto firms looking for regulatory clarity and progressive market opportunities.
According to recent reports, a state-backed investment firm in Abu Dhabi is planning a $2 billion investment into crypto exchange Binance, utilizing USD1, a stablecoin developed by World Liberty Financial — an entity with ties to the Trump family. This underscores the willingness of Emirati institutions to back digital asset ventures on a large scale.
The UAE’s increasingly crypto-friendly stance is also attracting firms looking to escape restrictive environments, such as the European Union’s recent implementation of the Markets in Crypto-Assets (MiCA) regulation. The EU’s policy mandates tougher reserve and compliance requirements for stablecoin issuers, pushing some companies to consider relocations to jurisdictions like the UAE that offer friendlier frameworks and innovation support.
With this bold new offering, RAK Properties positions itself at the forefront of a digital real estate revolution, signaling that the future of property investment in the Gulf may be built not just with bricks and mortar—but also with blockchain.
Signed,
Team V.DIR-EM-UAE
