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Hubpay Partners with @rakpropofficial to Enable Digital Asset Property Purchases

Hubpay Partners with @rakpropofficial to Enable Digital Asset Property Purchases

According to the companies, RAK Properties—listed on ADX since 2005—will accept Bitcoin, Ethereum, and USDT from international buyers, with Hubpay converting funds to UAE dirhams before settlement.

BTC
ETH
USDT

Fact Check
The statement is strongly confirmed by multiple credible sources, including official announcements from RAK Properties on their social media channels and reports from various reputable news outlets like Yahoo Finance, Gulf News, and Gulf Business. All sources consistently report the partnership with Hubpay to facilitate property purchases using digital assets.
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Summary

In an official announcement, RAK Properties and UAE fintech Hubpay said international buyers can purchase properties using Bitcoin, Ethereum, and Tether (USDT). Payments are converted to UAE dirhams by Hubpay and settled into RAK Properties’ accounts; Hubpay is regulated by ADGM and works with VARA-licensed partners. RAK Properties, listed on the Abu Dhabi Securities Exchange since 2005, has a market capitalization of about AED 4.7 billion ($1.3 billion). The initiative targets digital-first investors, aligns with Ras Al Khaimah’s Vision 2030, and coincides with the Mina Al Arab expansion delivering 800+ units by year-end.

Terms & Concepts
  • Tether (USDT): A U.S. dollar–pegged stablecoin widely used for crypto transactions and settlements.
  • Abu Dhabi Global Market (ADGM): A financial free zone and regulator in Abu Dhabi that licenses firms like Hubpay to provide compliant digital asset services.
  • Virtual Assets Regulatory Authority (VARA): Dubai’s regulator for virtual assets; licenses service providers overseeing compliant crypto activities.