Buyers wanting to move their cryptocurrency holdings into real estate have a new option beginning Thursday.
MyEListing, a new startup based in Cedar Park near Austin, launched a Zillow-like website where people can list commercial and residential properties for sale either using cash or cryptocurrency.
The company said through its ASAP (Accelerated Sale and Purchase) program, sellers in the marketplace can close deals in just one business day.
Coinbase Commerce will convert buyers’ crypto into cash and Millennial Title and Championship Title will handle the title work.
One North Texas residential property is up for sale on the platform, a three-quarter acre home site along Hughes Road in Grapevine, for $499,000 in cash, 17.5 Bitcoin or 256 Etherium.
Two commercial properties in D-FW are listed: an office building in Farmers Branch for $4.3 million, 150 Bitcoin or 2,208 Etherium; and a 40-acre commercial tract of land in Dallas at the intersection of Interstate 20 and Interstate 45 going for $3.9 million, 136 bitcoin or 1,997 Etherium.
Only Texas-based properties can be listed on the platform to start. The company plans to expand to two to three additional states in June.
“This initiative will drive innovation in the crypto and real estate industries,” said Caleb Richter, CEO of MyEListing.com, in a statement. “Real estate commerce needs to be changed. It’s hard enough as it is to buy property in your local neighborhood, let alone in another state or country.”
