Jamestown To Accept Crypto
In an announcement today, the design-focused real estate investment and management firm Jamestown stated that it will now be accepting rent payments from its tenants in the form of cryptocurrencies.
To facilitate the same, the firm partnered with BitPay, which will act as an intermediary exchange.
Stating the reason behind enabling this provision for their tenants, the President of Jamestown, Michael Phillips, said,
“Blockchain technology and the digital assets it enables, like cryptocurrencies and non-fungible tokens, are key components to the evolution of real estate. Allowing for cryptocurrency payments is part of our commitment to innovation and larger digital asset strategy to optimize and maximize our physical real estate through technology and virtual integrations.”
Since Jamestown will not be receiving or holding cryptocurrencies directly, BitPay will convert the cryptocurrencies received from tenants into fiat.
The cryptocurrencies acceptable for the rent payments initially include Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Wrapped Bitcoin (WBTC), Dogecoin (DOGE), Litecoin (LTC), and five USD-pegged stablecoins (GUSD, USDC, USDP, DAI, and BUSD).
Jamestown will be beginning by providing these services to tenants of its real estate assets throughout the United States of America. Eventually, they will also expand this service to their assets in Europe.
