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Elite International Realty expands crypto real estate with CryptEscrow
The Miami-area brokerage says it has facilitated more than $30 million in crypto-backed deals and charges a 1% conversion and escrow fee through the new partnership.
HousingWire reports that Elite International Realty has partnered with cryptocurrency escrow provider CryptEscrow to expand its crypto real estate capabilities, aiming to streamline how buyers convert digital assets into U.S. dollars for property purchases.
Elite International Realty said the partnership enhances its Crypto by Elite division and is designed for luxury and international buyers. The brokerage cited CryptEscrow as a federally and state-licensed escrow provider that specializes in converting crypto into dollars for real estate transactions.
According to the company, Elite has facilitated more than $30 million in crypto-backed real estate transactions to date and has completed more than 10,000 transactions totaling more than $6 billion in sales volume. Through the platform, clients will pay a 1% fee, which the firms say is lower than many traditional crypto conversion and escrow services.
Elite International Realty CEO Daniel Ickowicz said the brokerage has seen digital assets become an increasingly important part of the luxury real estate landscape, and that the partnership creates more opportunities for domestic and international buyers. HousingWire also reports the company pointed to data that 71% of high-net-worth individuals globally have invested in digital assets, and that about 68% of U.S. millionaires own cryptocurrency.