Escape to the Cayman Islands with Bitcoin
The picturesque Cayman Islands could soon welcome Bitcoin holders as new residents, thanks to a unique opportunity to invest in real estate using Bitcoin-backed loans. Bitcoin banking firm Ledn, registered with the Cayman Islands Monetary Authority, is offering Bitcoin holders the chance to use their digital currency as collateral for property investments on the islands.
An alternative path to residency
Investing in real estate is just one way for individuals to obtain citizenship in the Cayman Islands, with investments over $2.4 million making buyers eligible for permanent residency. Ledn has teamed up with local real estate agency Parallel to facilitate this new opportunity.
A game-changing partnership
Through their partnership, Ledn and Parallel are revolutionizing the real estate market in the Cayman Islands. Parallel will accept Bitcoin-backed loans from Ledn as a means to finance property purchases, creating an exclusive partnership. Parallel also handles conversions to fiat currency, providing flexibility for both buyers and sellers. Ledn, on the other hand, ensures a fiat-free experience, with transactions paid in Bitcoin or stablecoins backed by the US dollar.
Crypto revolution in real estate
Parallel, a crypto-centric real estate broker, allows users to finance their real estate purchases in the Cayman Islands entirely without fiat currency. This means that cryptocurrency holders can pay for properties with crypto, leveraging their Bitcoin holdings as collateral without having to sell any portion of their digital assets.
Increasing demand for cryptocurrency-facilitated transactions
Both Ledn and Parallel have experienced a rise in demand for their services, as more individuals look to invest in property using cryptocurrency. In fact, Parallel previously facilitated the sale of a $10 million property in December 2022, which was entirely paid for in cryptocurrency.
Residency through cryptocurrency
The concept of obtaining residency through cryptocurrency investments is not new. Vanuatu claims to be the first country to accept Bitcoin as a means of payment for citizenship. Other crypto-friendly destinations, such as Portugal, Malta, and El Salvador, have also emerged as potential options for those looking to leverage cryptocurrency to achieve residency. However, the opportunity to invest directly in Bitcoin for residency is still not available.
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