Analysis News

Crypto Backed by Real Estate?

Binance Coin (BNB) is now acceptable as for real estate buying. But only at Propy, that allows users to buy and sell real estate through blockchain. The company announced that it accepts now Binance Coin (BNB). Some experts found that it is funny, others – that it is very pragmatic.

The key is that Propy is a USA company, a global real estate marketplace with decentralized title registry. And Binance is by fact Chinese company. It was founded in China by Changpeng Zhao (CZ) in 2017, but soon moved its servers and headquarters out of China. By March 2018 the company had established offices in Taiwan. Everybody knows that USA –Chinese economic relations are now on at lowest ebb. So the Propy initiative may be kind of people’s diplomacy! Fabulous idea.

But from the other side Propy deals with real estate in most expensive regions. It operates across U.S. (NY and California), China, Russia (Moscow), UAE and London. And you know what? Chinese buyers now “buy like crazy”. This is not a stretch. Binance CEO well known Changpeng Zhao known also as CZ – has noticed that noble gesture. And reacts: “Will introduce you all the Chinese buyers. They buy like crazy!”

Business, nothing personal!

Propy meanwhile explained they accept BNB because it is a “great store of value” that will “turn into programmable money”. BNB currently stands at 14th place in terms of market cap ($1.2 billion) and represents one of the most popular and reputable cryptocurrency exchanges.

Propy claims: “BNB is a great store of value today, and will turn into programmable money. For the rapidly growing BNB community, we make it possible to invest in real estate with easy paperwork at Propy!”

Propy claims again to make it possible to invest in real estate with easy paperwork and cryptocurrency with its platform “capable of unifying and standardizing property listings in global cities”, using blockchain.

And finally – with such influence as CZ holds, other companies may consider the integration of BNB as a trend!