A Texas startup is allowing people to buy real estate using cryptocurrency.
A Texas startup is allowing people to buy real estate with cryptocurrency through its platform.
MyEListing launched a website where people can use bitcoin or ether to buy Texas-based commercial and residential properties listed on the site.
The business allows deals to close in as little as one day, no fees for listing properties or contacting agents, and buyers and sellers to sign closing documentation via online Zoom calls.
Cryptocurrency exchange Coinbase is partnering with the startup to convert cash into bitcoin or ether and vice versa.
"This initiative will drive innovation in the crypto and real estate industries," CEO Caleb Richter said. "Real estate commerce needs to be changed. It's hard enough as it is to buy property in your local neighborhood, let alone in another state or country."
Currently, only Texas-based properties can be listed on the platform, but the company plans to expand to additional states soon.