You Can Now Use Binance Coin (BNB) On Propy To Purchase Real Estate
Many cryptocurrency enthusiasts point out that mass adoption will only occur when individuals are using bitcoin to make daily purchases, such as groceries and coffee. They also are quick to point out that the vast majority of families and individuals still make their largest purchases – such as their home or car – using fiat currency. Well, that might not change immediately, but Propy, a company that uses blockchain technology to sell real estate, has announced that it is now accepting the Binance Coin (BNB) for home purchases.
BNB is the token used on Binance, the world’s most popular exchange, and where the most trading activity takes place (based on daily volume). It is therefore certainly a strategic move for the platform to integrate the coin, which is 14th in the list of cryptocurrencies, with a market capitalization of over $1 billion. Binance has also been clear about its plans to expand rapidly in both Asia and Europe, as well.
Changpeng Zhao, also known as CZ, the CEO and founder of Binance, responded positively to the news on Twitter, with an upbeat response of “Wow, thanks!” He elaborated that he “will introduce you to all the Chinese buyers…they buy like crazy”. In fact, Chinese real estate investors are notorious for purchasing real estate in foreign countries, to the point where it has affected the markets of various countries, such as the United States, Canada, and Australia.
Propy aims to be the most prominent platform to purchase real estate through cryptocurrency in the world. The company was responsible for the first real estate purchase on the Ethereum blockchain last year, by TechCrunch founder Michael Arrington. Propy is a company that operates globally, featuring properties in metropolitan cities worldwide such as San Francisco, London, New York, Dubai, Tokyo, Moscow, and more.