The wealthiest residents in London are choosing to pay their rent in cryptocurrency.
According to a report by CityAM, affluent residents in the capital of the United Kingdom are opting for digital money to pay their landlords, with one real estate company describing the trend as “a step towards the future.”
Recognizing the growing trend, the real estate company Knightsbridge Prime Property has confirmed a partnership with the virtual currency service provider Bitcashier to facilitate rent payments using this type of asset.
KPP has confirmed that an incredibly wealthy customer has chosen to pay their rent for a luxurious apartment on Herbert Crescent using Bitcoin (BTC), paying £45,000 per week in digital currency.
Emma Grubmueller, KPP’s director of social media marketing, said: “This is not just a transaction. It is a revolution in accessibility, transparency, and the opportunity to change the landscape of real estate marketing, pushing the industry towards an infinite future of innovation and comprehensiveness.”
Paying rent with BTC can be done through mobile devices and is settled in real-time without any wait.
Foreign tenants can take advantage of the borderless nature of cryptocurrency to make payments to their landlords, saving a great deal in processing fees.
For tenants who wish to maintain their anonymity, virtual currency provides a viable alternative to traditional rental payment methods.
