Initially only available to Texas-based properties, the company plans expansion into other states in June 2023.
*This article has been corrected from "World's First" to "United States' First," as other worldwide real estate firms have accepted bitcoin prior.
MyEListing, a commercial real estate marketplace, is set to launch the United States' first bitcoin-enabled real estate marketplace through a Coinbase integration. This new platform allows buyers to purchase U.S. real estate properties with bitcoin or cash. MyEListing's CEO, Caleb Richter, stated that the program will "drive innovation in the crypto and real estate industries."
The press release shared with Bitcoin Magazine claims the program aims to bring new convenience, accessibility and greater profitability to the market. Agents can now list U.S. commercial and residential properties to be sold for cryptocurrency or cash on the platform, and anyone worldwide can purchase them within one business day through the ASAP program. The transaction times are also expected to be nearly 50 times faster than current averages, according to the press release.
The platform is initially launching for Texas-only properties on April 20, 2023, with plans to expand to other select states in June 2023. The list of available properties to purchase with bitcoin is available on the MyEListing website. The ASAP program's explainer video provides a step-by-step guide on how the process works.
The integration of Coinase by MyEListing is expected to change the way people invest in real estate by providing a secure and efficient way to buy and sell properties, the press release states. As Richter explained, "with the ASAP program, anyone, regardless of the language they speak or where they are in the world, can purchase residential and commercial real estate with crypto in as little as one business day."
The program's success will be determined in the coming months as it expands to other states and attracts more buyers and sellers.
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