Gafisa, the fourth largest residential and real estate construction company in Brazil, has added Bitcoin to its payment options.
Brazilian real estate giant Gafisa has revealed that it will begin accepting payments in Bitcoin, the most important cryptocurrency on the market.
Gafisa, which is Brazil's fourth-largest real estate company, said Bitcoin payments will help it diversify the options it offers to its clients and investors, while also allowing it to experiment with this new and emerging digital asset class.
Gafisa CEO Guilherme Benevides discussed several of the advantages that cryptoassets offer to their users, such as an alternative, efficient and reliable means of payment.
First, Benevides indicated that through cryptocurrencies, users and investors can carry out commercial operations free of intermediaries. He also noted that crypto assets allow Send value quickly and securely, without risk of blocking and that these offer a greater cost-benefit ratio, reduce transaction costs for users, especially for cross-border transactions.
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Although Bitcoin and cryptocurrencies are not yet regulated by the Central Bank of Brazil, their use and adoption in the country has been growing significantly. Gafisa's initiative to adopt Bitcoin payments is proof of this.
Brazilians can now buy real estate with Bitcoin
The Brazilian real estate giant, which had been studying Bitcoin payments since last year, has partnered with a local cryptocurrency platform to make its way into this innovation, which is transforming the real estate market globally.
Gafisa indicated that cryptocurrencies are increasingly present in everyday life and, therefore, there is no way to do business without accepting them as a means of payment. However, the real estate giant also pointed out that cryptocurrency holders interested in acquiring properties with their digital assets must go through a prior evaluation process.
On the other hand, in addition to Brazil, in other parts of the world such as Spain, the United States, Portugal and the United Arab Emirates, real estate agencies are also adding cryptocurrencies among the payment options they offer to their clients and investors.
The use of Bitcoin as a means of payment continues to grow
In Brazil, in addition to real estate payments with BTC, cryptocurrency holders can also use it to purchase goods and products through Mercado Libre, the largest e-commerce platform in the region.
As reported by this media at the end of 2021, Mercado Libre reported that a select group of users in Brazil could already use cryptocurrencies such as Bitcoin to buy and sell through MercadoPago's digital wallets. The company even stated that it was possible to store and maintain cryptocurrencies from its digital wallets.
The implementation of payments with crypto assets on the e-commerce platform exposes the importance that this type of digital asset has gained in the country in recent years and further accentuates the need for businesses and companies to adapt to new innovations and new times.
Paying taxes with BTC
The city hall of Rio de Janeiro, one of the most populous cities in Brazil, will also implement cryptocurrencies for tax payments in 2023. Eduardo Paes, mayor of Rio, announced this year that residents of the city will be able to pay their tax obligations using bitcoins or other cryptoassets.
According to Paes, the city of Rio also has plans to expand its cryptocurrency options, to explore new forms and use cases for these digital assets and stimulate their circulation within the city. Rio de Janeiro wants to become a reference city for cryptocurrencies in Brazil and in the world.
Brazilians are increasingly investing in cryptocurrencies
Despite not being regulated yet, cryptocurrencies are already an important part of Brazilian citizens and investors.
The Bank of Brazil revealed in 2021 that Brazilians spent on average more than $530 million per month on cryptocurrencies, while regulators continue to give the green light to new financial investment products and instruments, opening the door to thousands of investors to this new class of digital asset.
To date, five cryptocurrency-related ETFs have been approved in Brazil, offering a regulated alternative to investors seeking exposure to the disruptive potential of cryptoassets.
Continue reading: Brazilians buy more than $500 million in cryptocurrencies on average per month
