Arte Surfside begins accepting crypto as payment for its luxury condos

By: Jinia Shawdagor
Jinia Shawdagor
Jinia is a cryptocurrency and blockchain enthusiast based in Sweden. She loves everything positive, travelling, and extracting joy and happiness from… read more.
on May 7, 2021
  • The decision to accept crypto was prompted by Silicon Valley firms and VCs relocating to Miami.
  • Sapir Corp, the developers of Arte Surfside will accept multiple coins, including BTC and ETH.
  • Sapir Corp’s chairman says this move is part of the firm’s goal to make Miami a crypto hub.

Arte Surfside, the most exclusive luxury building in Miami, has begun accepting crypto as payment for its condominiums. A press release unveiled this news on May 6, noting that Arte partnered with SolidBlock, a crypto trading platform to enable this mode of purchase. Reportedly, the condominium complex decided to start accepting crypto to woo crypto millionaires and billionaires that relocate to Miami.

According to the news release, SolidBlock will help ensure potential buyers get a seamless experience while purchasing the residency units in digital currencies, such as Bitcoin (BTC) and Ether (ETH). The company will also assist the buyers with other crypto related issues that might emerge in the future, such as legal and tax advice.

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Reportedly, the 12-story oceanfront condominium complex is home to several famous people, including fashion blogger Arielle Charnas, as well as Ivanka Trump and her partner Jared Kushner. Out of the available units, the cheapest is going for £7.4 million, while the most expensive unit is the Villa Nove penthouse, which is going for £27.31 million. All condos have access to a 75-foot indoor pool, meditation pond, a tennis court on the rooftop, and temperature-controlled parking lots.

Striving to make crypto adopters feel at home

Commenting on this bullish news, Alex Sapir, the chairman of Sapir Corp LTD, the project’s developer, said,

As the most exclusive luxury building in the city, we’re positioning ourselves for a future where half the world’s billionaires are crypto billionaires, which will happen once Bitcoin reaches $200,000. With cryptocurrencies already creating incredible worldwide wealth, it’s real estate that will sustain that wealth and provide buyers with a legacy.

Echoing Sapir’s sentiments, Giovanni Fasciano, Arte Surfside’s co-developer said cryptocurrencies are both sustainable assets and the future of wealth. He added that with more technology executives moving to Miami, crypto will follow. As such, it is key that developers in the city come up with ways to make crypto transactions seamless and secure for such investors.

Touting Arte for its decision to accept crypto Miami’s mayor, Francis Suarez said the project is setting a positive example for developers in Miami. Hopeful about the future, Suarez went on to say he would not be shocked to hear of similar success stories. According to him, this is a step in the right direction, seeing as he believes Miami will only become the city of the century if all industries adopt emerging technologies and cryptocurrencies.

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