Digital Money Home Purchase: Christie’s Opens a New Era in Real Estate Transactions

The top luxury goods brokerage in the United States is venturing into new business areas, allowing clients to purchase real estate using Digital Money. This innovative move marks the acceleration of cryptocurrency's integration into the mainstream financial system.

Christie's International Real Estate has become the first large brokerage to establish a dedicated team to handle pure digital payment property transactions. This team consists of lawyers, analysts, and cryptocurrency experts, providing services to both parties that do not rely on traditional banks.

The CEO of the company's Los Angeles branch, Aaron Korman, recently announced the establishment of this new department. Over the past two years, he has completed several large transactions, including a $65 million purchase of a Beverly Hills property, where the buyer requested payment in cryptocurrency instead of US dollars.

Kerman stated: "The trend of cryptocurrency is obvious; it will continue to exist and become more important in the coming years."

Recently, the U.S. government's attitude towards Digital Money has become increasingly open. The recently passed legislation establishes federal rules for stablecoins and enhances protections for the crypto industry. These initiatives significantly strengthen the position of cryptocurrency in the financial system.

In June this year, major mortgage lenders were instructed to consider including cryptocurrency investments in the portfolio assessments of homebuyers. According to the latest poll, about 14% of American adults now own at least some cryptocurrency.

Although real estate transactions using cryptocurrencies are still relatively rare, this payment method is increasingly being adopted by affluent groups. One major appeal of cryptocurrencies is that they allow buyers to better protect their privacy, which is difficult to achieve in traditional transactions.

Kerman revealed that he has completed multiple transactions, in which the seller is even unaware of the buyer's identity. The seller's lawyer communicates with the buyer's representative to ensure that the source of funds is legitimate. Currently, he has a batch of properties worth over $1 billion that are willing to accept Digital Money payments.

This includes a $118 million mansion "La Fin" in the Bel Air area of Los Angeles, a $63 million Beverly Hills mansion "Nightingale", and the unique "Invisible House" in Joshua Tree.

"Accepting cryptocurrency indicates our open-mindedness towards innovative buyers," said Chris Hanley, owner of "The Invisible House." The property is currently listed for $17.95 million.

In the newly established department, buyers use Digital Money to set up limited liability companies for transactions, making the tracking process more difficult. Kerman predicts that within five years, cryptocurrency transactions will account for more than one-third of all residential real estate transactions in the United States.

He emphasized: "If the seller does not mind the buyer remaining anonymous, then we can successfully protect the buyer's identity."

As the application of Digital Money in real estate transactions continues to expand, this innovative model will undoubtedly have a profound impact on the real estate market, ushering in a new era of property transactions.