Bahrain-Based Crypto Platform to Enable Real Estate Acquisition Using Crypto

Brian Njuguna  Nov 09, 2022 17:35  UTC 09:35

2 Min Read

CoinMena, a Bahrain-based crypto asset service provider, has teamed up with Carlton Real Estate to facilitate real estate purchases using cryptocurrencies. 

Ali Adnan Mahmood, Carlton Real Estate’s deputy managing director, pointed out:

“We are proud to be the first real estate brokerage company in the kingdom to accept crypto asset transactions for property purchases and other real estate services through our partnership with CoinMena – the crypto asset service provider licensed by the Central Bank of Bahrain.” 

By incorporating crypto into its payment options, Carlton Real Estate believes this will propel its management, financing, and brokerage objectives. CoinMena enables institutional and retail investors to easily access digital asset investments directly from their bank accounts for frictionless and quick money transfers.

In a joint statement, CoinMena founders Dina Sam’an and Talal Tabbaa stated:

“As adoption continues to grow in the region, we see significant opportunities to use cryptocurrencies to purchase real-world assets. Crucially, this Carlton partnership also signals to the market that cryptocurrencies are maturing and gaining mainstream acceptance as a viable medium of exchange, they said in a joint statement.”

They added that Bahrain has been scrutinizing the crypto/blockchain space based on the adoption of various regulations.

For instance, the Central Bank of Bahrain (CBB) undertook a crypto payment trial with Onyx, JPMorgan’s cryptocurrency and blockchain unit. 

Furthermore, Binance received a Category 4 license as a crypto asset service provider (CASP) from the CBB. This license was to permit Binance Bahrain to offer a full range of crypto trading services to consumers under the supervision of the Bahrain regulators, Blockchain.News reported. 

Image source: Shutterstock

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