Hundreds of high-net-worth individuals are increasingly using cryptocurrency to buy residential real estate across Europe as digital assets move closer to mainstream finance.
The trend is being driven by crypto payments firms that specialise in bridging digital assets with traditional property transactions.
Brighty, a Lithuania-licensed crypto payments app, has brokered more than 100 property deals for wealthy clients over the past year.
The platform enables customers to use crypto holdings to purchase apartments in destinations including the UK, France, Malta, Cyprus, and Andorra.
Brighty was co-founded by Nikolay Denisenko, a former lead backend engineer at Revolut.
Demand for crypto-funded property purchases has grown steadily as wealthy investors seek to diversify away from volatile digital assets.
We have between 100 and 150 wealthy customers, and it’s growing fast.
Nikolay Denisenko said.
The average spend for these people is around $50,000 per month, and apartment purchases range from roughly $500,000 to $2.5 million.