Cayman Islands Welcomes Bitcoin Holders as New Residents Through BTC-Backed Real Estate Investments
Summary:
Bitcoin holders can now become residents of the Cayman Islands through BTC-backed loans, allowing them to invest in real estate. Ledn, a Bitcoin banking firm registered with the Cayman Islands Monetary Authority, has partnered with local real estate agency Parallel to offer crypto-backed loans exclusively for property purchases. Investments exceeding $2.4 million in Cayman Islands real estate also qualify buyers for permanent residency. This initiative allows Bitcoin holders to leverage their assets without selling them, potentially benefiting from asset appreciation.
Bitcoin holders now have the opportunity to become residents of the Cayman Islands through BTC-backed loans that can be used to invest in real estate, as per Bitcoin banking firm Ledn. The firm, registered with the Cayman Islands Monetary Authority, enables Bitcoin holders to use their BTC as collateral for loans to purchase properties on the islands. Investments valued at over $2.4 million in Cayman Islands real estate also qualify buyers for permanent residency. Ledn has partnered with local real estate agency Parallel, allowing buyers to finance purchases using crypto-backed loans, exclusively provided by Ledn. While Parallel handles the conversion of funds into fiat currency if preferred, Ledn's part of the transaction can be settled in BTC or USD-backed stablecoins. In addition, Parallel accepts cryptocurrency as payment for properties. By leveraging their BTC holdings as collateral, investors can benefit from potential appreciation without selling any portion of their assets. Both Ledn and Parallel are compliant with local regulations and must adhere to comprehensive compliance requirements. While Vanuatu claims to be the first country to accept Bitcoin for citizenship by investment, other countries such as Portugal, Malta, and El Salvador have also emerged as cryptocurrency-friendly destinations. However, direct investment in Bitcoin for residency is not currently possible.
Published At
8/24/2023 4:00:00 PM
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