The homeowner of not just 1, but 3 houses in the Philippines, is looking to sell them in exchange of cryptocurrencies.
On three separate Facebook posts, Dr. Joel Advincula, licensed broker and realtor at RE/MAX Advantage Iloilo, has recently shared 3 properties being sold in Iloilo City, Philippines.
One of the owners of the said properties, investor Jonha Richman, is open to either cash buyers or “cryptocurrencies” – also known as ‘digital money’ as form of payments.
Houses for cryptocurrencies?
Why sell ‘tangible’ assets for ‘internet money’?
“We are big proponents of cryptocurrencies and think we should start expanding the conversation towards seeing it as a viable payment option for purchases.
We’ve also planned on allocating the proceeds of the said sale of these particular investment assets of ours to cryptocurrencies anyway, so it makes sense to make it available to those who prefer to pay with cryptocurrencies.”
If buyers want to pay with cash, they’ll be working with Bangko Sentral ng Pilipinas (BSP)-licensed companies such as Bloom X, PDAX, and SCI to convert PHP to cryptocurrencies such as Bitcoin and Litecoin.
Cryptocurrency adoption in the Philippines
Philippines is one of the countries where the need cryptocurrencies adoption is imminent.
Meanwhile, four in ten Filipino adults are using the internet and one of the leaders in terms of social media usage, according to SWS Survey which presents a great opportunity for Filipinos to explore other financial products that can be available through the internet.
A major player in the Philippine banking industry, Union Bank, has also recently rolled out two-way crypto ATMs in the country.