Local and international investors in the UAE can now purchase property in the Mina beachfront community of Ras Al Khaimah using cryptocurrencies, including USDT, BTC, and ETH.
RAK Properties, the largest publicly listed developer in the emirate of Ras Al Khaimah, announced a partnership with Hubpay, a regulated Abu Dhabi-based FinTech company, to introduce crypto payments for property purchases. The new service aims to attract investors focused on modern digital financial instruments.
Under the agreement, crypto payments will be processed through the Hubpay platform and converted into UAE dirhams, which will be deposited directly into RAK Properties’ account. The developer doesn’t directly interact with digital assets, ensuring full compliance with regulatory requirements.
According to Rahul Jogani, CFO at RAK Properties, this initiative strengthens the company’s status as an innovative developer and simplifies the investment process in the Mina beachfront community. Hubpay CEO Kevin Kilty emphasized that the platform provides a secure and transparent infrastructure for major international transactions.
Currently, Mina is undergoing active development — more than 800 units are planned to be delivered by the end of the year, highlighting growing interest from both local and international investors.
It’s worth noting that in February 2025, the UAE introduced the possibility of using USDT to purchase real estate from 32,000 local and international property agents.
Max Krupyshev, CEO of CoinsPaid, noted in a recent presentation to members of the American Chamber of Commerce Estonia that the growing adoption of stablecoins as a payment method, including in real estate, is driven by their practicality for international transactions and ease of integration through specialized APIs provided by payment service providers.
