On the day when Bitcoin broke all its earlier records of values, Pacaso clarified its intention of accepting crypto payments through the crypto payment app, Bitpay. Pacaso’s CEO, Austin Allison, confirms the decision and commented that there is mass-adoption of crypto payment mechanism within the real estate sector.
Pacaso is a partnership firm involved in the business of real estate which was founded by Austin Allison and Spencer Rascoff. The firm came into being in the year 2020 and introduced “shared ownership” option for persons intending to buy second home. Many people are mistaken to regard Pacaso as one of the company providing properties called “timeshares”. However, the business of Pacaso is completely different than timeshares, where the residence of the owner is for temporary basis only.
Usually the timeshare properties offer residence for a limited days. However, in the case of shared ownership, the property can be booked even for a year.
But at the present moment, Pacaso has made an improvement in the offer. However, the improvement has been made within the company’s payment mechanism.
It has been announced by Pacaso on 20th October, 2021 that it will now be accepting crypto payments. For the purposes of making payments through crypto, the customers would be required to use the crypto payment app called “Bitpay”. So, Pacaso and Bitpay have become official partners for providing the customers the option of crypto payments. The announcement of Pacaso was made by its CEO and founder, Austin Allison. It was made on the day when Bitcoin broke all its past records of price high.
Allison commented that the use of virtual currencies and of their underlying source i.e. blockchains is increasing across the world. It has been widely and very actively adopted even by the real estate sector. For the purposes of catering this huge demand, Pacaso too has incorporated the crypto payment mechanism. Allison is confident that by providing crypto payment option, they would be able to cater their customers in a very convenient way.
The details suggested that the customers of Pacaso can choose from multiple digital assets to make their payments. For instance, the system will give the option of making payments into Bitcoin, Litecoin, BCH, Ethereum and Dogecoin as well as WBTC. At least 5 prominent stablecoins too have been integrated.
Bitpay’s CEO, Stephen Pair, said that over the years, Pacaso’s business has grown significantly. The company has customers in foreign lands who wish to purchase properties in foreign lands. Such purchases involve huge amounts of monies to be transferred from here to there. So the integration of crypto payment was the best option for Pacaso to integrate. Similarly, crypto payment option, at the same time, is beneficial for customers of Pacaso, amongst whom there are huge numbers of crypto owners.