Christie's affiliated company enables real estate purchases with cryptoassets: The New York Times | CoinDesk JAPAN

• Christie's International Real Estate has launched a specialized division that allows real estate transactions to be completed solely with cryptoassets.
• The goal is to enable high-end buyers and sellers, who often prioritize privacy, to seamlessly utilize digital assets in real-world real estate transactions.

The company's CEO, Aaron Kirman, is leading this initiative. Prior to this initiative, several noteworthy transactions had taken place, including a $65 million (approximately 9.425 billion yen, based on an exchange rate of 145 yen per dollar) transaction in Beverly Hills that exclusively used cryptoassets.

This new department is composed of legal, financial, and cryptoassets experts, handling P2P transactions that do not rely on banking systems. The goal is to enable high-end buyers and sellers, who have a strong tendency to prioritize privacy, to seamlessly use digital assets in real-world real estate acquisitions.

Considering that about 14% of Americans hold cryptoassets, Mr. Karman predicts that more than one-third of real estate transactions in the United States could be conducted in digital currency within five years.

It is often done through a limited liability company that is directly funded with digital assets, but the use of cryptoassets increases the anonymity of buyers, making it more difficult to trace ownership compared to traditional banking.

Mr. Karman's cryptoassets portfolio currently exceeds $1 billion (approximately ¥145 billion) and includes notable properties such as "La Fin" in the upscale neighborhood of Bel Air, valued at $118 million (approximately ¥17.11 billion), and "Invisible House" in Joshua Tree, valued at $17.95 million (approximately ¥2.6275 billion).

Christie's did not respond to the request for additional information from CoinDesk.

| Translation & Editing: Rin Lin | Image: Albrecht Fietz/Pixabay ｜Original: Luxury Brokerage Christie’s Allows Buyers to Purchase Real Estate With Crypto: NYT