Guilherme Augusto Soares Benevides was the chief executive officer at Gafisa. He cited the growth of the digital currency market as one reason for Gafisa’s attention.

Benevides stated that crypto is a way to do business. “On top of providing an additional payment option for buyers,… the use of the currency promotes our customers’ best interests.”

Brazil has been a prominent adopter of digital currency due to its rapid growth. Chainalysis has ranked the country sixth for the amount of blockchain-based value transfer.

Despite the fact Brazil’s Central Bank not accepting bitcoin as a method of payment, the medium has been extensively used.

This practice is evident in the participation of large corporations that are listed on stock exchanges.

Benevides stated that Bitcoin is the most valuable cryptocurrency in terms of market capitalization, and the largest technologically-based currency in history. It is a currency that is growing in popularity every day, thus expanding its applications.

Gafisa also accepts Bitcoin. The company accepts 16 different cryptocurrency payments.

Gafisa is one of the most prominent real estate developers in Brazil, with over 130 Brazilians living in properties created by the company.

Buyers must complete paperwork to indicate their intention to acquire cryptocurrency-based real estate. The company will review the paperwork before the buyer receives a wallet address.

Over the last few months, Bitcoin’s closing price has been negative. The previous week saw the seventh consecutive weekly drop, the longest such decline in recorded history.

Despite the optimism surrounding the market, it ended the week in negative, which caused alarm among investors.It’s also worth mentioning as the use of cryptocurrencies grows in popularity, that just two weeks ago, a property in Braga, Portugal was sold exclusively on the basis of Bitcoin, with no conversion into euros taking place. With this deal, the real estate business saw a first of its sort.

Gafisa is one of Brazil’s most prominent real estate developers. It has now announced that it will accept Bitcoin for apartment purchase payments. This makes it another publicly traded company to adopt the digital asset.

The cryptocurrency market allows those who do not reside in Brazil to quickly and securely transfer their assets to the country. According to a report published by Brazilian outlet Livecoins on May 23, it is an attractive option for investors in Brazil’s real estate market.

Although the Central Bank of Brazil does not recognize cryptocurrency as a payment method, this exchange mode has become so popular that it is widely accepted. This widespread use is evident by the participation of corporations listed on a stock exchange. The company then analyzes the intent form and makes a decision about whether to accept it. The customer must accept the offer and provide the required amount to the broker’s account so that the broker can facilitate the purchase of the property.