United Wholesale Mortgage (UWM), the second-largest United States-based mortgage lender, is planning to accept cryptocurrency payments this year starting with Bitcoin (BTC). UWM CEO Mat Ishbia revealed the crypto plans on Monday in a conference call regarding the firm’s Q2 results — with the firm posting $138.7 million in net profits for the quarter. “We’re excited that hopefully (this year) we can actually execute on that before anyone in the country,” Ishbia said. “We are evaluating the feasibility and requirements in order to accept cryptocurrency to satisfy mortgage payments.” – @Mishbia15 — United Wholesale Mortgage (@UWMlending) August 16, 2021 Speaking …

Tokenized property remains niche largely due to its relative novelty and remaining regulatory uncertainties. Yet a new report has noted that even if just 0.5% of the total global property market were to be tokenized in the next five years, it would be on track to become a $1.4-trillion market In recent years, the total value of the global real estate market has hit a staggering $280 trillion, eclipsing most other major asset classes and putting it on par with the value of total global debt accrued by 2020. Moore Global, a London-born international advisory and accountancy network, has published …

Uruguayan Senator Juan Sartori has introduced a draft bill to regulate cryptocurrency and enable businesses to accept crypto payments. Sartori joins a growing list of politicians from South American and Spanish-speaking countries who are seeking to bring crypto adoption into the mainstream. The senator is not proposing the use of crypto as legal tender as in El Salvador, however. The crypto-friendly Senator tweeted on Wednesday that “today we present a bill, pioneer in the world, that seeks to establish a legitimate, legal and safe use in businesses related to the production and commercialization of virtual currencies in Uruguay.” The bill …

Spanish lawmakers are backing a new legal initiative to legitimize the cryptocurrency and blockchain industry by proposing a new bill on digital transformation. The new draft bill was introduced by Spanish political party the People’s Party (PP). It aims to drive innovation in multiple industries through regulating emerging technologies such as blockchain and artificial intelligence and cryptocurrencies like Bitcoin (BTC). As part of the draft bill, the PP proposed to legalize the usage of cryptocurrency and blockchain tech for mortgage and insurance purposes. Specifically, the proposal aims to allow property owners to pay mortgages with crypto and authorize the real …

Crypto as a payment option for real estate continues to gain traction as the adoption of digital currencies for commercial transactions continues to take shape. Scott Paul, founder of Utah-based marketing agency Wooly, put up his Saratoga Springs home for sale, with Dogecoin (DOGE) as an acceptable payment method, according to a report by Fox 13 on Sunday. While the listing price is set at $399,000, Paul is reportedly ready to offer a 10% discount if the purchase is made via Dogecoin. Commenting on the potential volatility risk associated with a real estate deal conducted via DOGE, Paul remarked, “I’m …

One of Southern California's largest independent escrow companies, Glen Oaks Escrow, has announced its first property refinancing with a Bitcoin-backed loan. The company stated that this is the first time a refinancing has been completed using Bitcoin as collateral. In the July 28 announcement it added that it has previously facilitated a number of real estate transactions that used BTC as the form of payment. Glen Oaks Escrow, which started accepting Bitcoin payments in 2018, views the transaction as proof that Bitcoin’s value proposition is becoming clearer to debtors and creditors. Company Chief Operating Officer Joe Curtis commented: “Seeing a …

Crypto investors are betting big on real estate this year as the cryptocurrency market continues to grow. New York Digital Investment Group (NYDIG) recently conducted a survey that found that 46 million Americans own Bitcoin, equating to 22% of all adults. While optimistic, some cryptocurrency investors have expressed concerns regarding the security, custody and volatility of digital assets. For example, Nickel Digital Asset Management, a regulated European investment manager dedicated to the crypto market, surveyed institutional investors and wealth managers from the United States and Europe who collectively have $275 billion in assets under management. Findings show that 76% of …

New use cases for nonfungible tokens are continually emerging. Now, one project is combining NFTs with real estate — delivering fractional property ownership. LABS Group says it is establishing the world’s first community-owned resort, allowing people to purchase a stake in the Kunang Kunang glamping resort. Surrounded by green forests, the property offers 15 private pods and a grand suite. The Indonesian island of Bali is a 30-minute flight away — and local attractions include waterfalls and a breathtaking volcano. According to those behind this project, traditional timeshares can be full of pain points. Owners of timeshares only have the …

Household debt for younger Koreans — those born from the 1980s onward — has surged to $22.7 billion, up from $3.9 billion from last year. Data from South Korea's Financial Supervisory Service (FSS), released today by Representative Kim Han-jeong of the Democratic Party of Korea, reportedly indicates that the high levels of lending are attributable to an increase in investments in cryptocurrencies, stocks and real estate. While millennials and Gen Z accounted for roughly 34% of total household debt in Korea in 2019, that figure grew to 45.5% by 2020 and is now at 50.7%. Rep. Kim has called for …

A completely decentralized, NFT-based crypto advertising billboard has launched. Cell Land says that it is giving up to 14,400 brands the opportunity to purchase pixels — and this could attract millions of unique views per month. Overall, the advertising billboard measures up at 900 x 1600 pixels. A total of 14,400 cells are up for grabs, each of them measuring 10 x 10 pixels. Each cell can be rented in a secure and decentralized way — and ownership can also be transferred to others without third-party intervention. One prominent chunk of Cell Land’s real estate was recently donated to the …

tZERO, an alternative trading system for security tokens, has announced a partnership with real estate crowdfunding company, NYCE Group, to tokenize $18 million worth of the firm’s shares. NYCE’s stock will be tZERO’s first new listing since launching its ASPN pairing in August 2020, representing fractionalized ownership in a Colorado ski resort. Announced June 30, tZERO will support secondary trade for NYCE’s tokenized common shares once the real estate company has completed its upcoming Regulation A+ offering, subject to regulatory approval. NYCE’s shares will be tokenized using tZERO’s proprietary smart contract technology. Philip Michael, CEO and co-founder of NYCE, stated: …

Big Four accounting firm KPMG has partnered with Australian property developers Mirvac to develop a blockchain-based platform to track the provenance of buildings. The platform was commissioned by the New South Wales state government. Taking inspiration from supply chain initiatives to track beef products using blockchain, the platform will allow property insurers, investors, and owners to access verified data on the resources, subcontractors and building processes employed during a property’s construction. A working model is slated to go live within six months and will be piloted on existing buildings that are undergoing rectification amid the recent flammable cladding crisis, in …