Elite International Realty expands crypto real estate services

Elite International Realty has partnered with cryptocurrency escrow provider CryptEscrow to expand its crypto real estate capabilities, responding to growing demand from luxury and international buyers seeking to use digital assets to purchase property.

The Miami-based brokerage said the partnership enhances its Crypto by Elite division and provides buyers with a streamlined process for converting cryptocurrency into U.S. dollars for real estate transactions.

Elite International Realty said it has facilitated more than $30 million in crypto-backed real estate transactions to date.

The announcement comes as cryptocurrency ownership continues to grow among affluent investors. According to the company, 71% of high-net-worth individuals globally have invested in digital assets, while an estimated 68% of U.S. millionaires own cryptocurrency.

“After closing numerous crypto-backed real estate transactions over the last several years, we’ve seen firsthand how digital assets are becoming an increasingly important part of the luxury real estate landscape,” said Daniel Ickowicz, CEO of Elite International Realty. “While our team has extensive experience facilitating these transactions, this partnership with CryptEscrow creates even greater opportunities for domestic and international buyers looking to invest in luxury real estate.”

CryptEscrow is a federally and state-licensed cryptocurrency escrow provider that specializes in converting digital assets into U.S. dollars for luxury real estate purchases.

Through the partnership, Elite International Realty clients using the platform will pay a 1% fee, which the companies say is lower than many traditional crypto conversion and escrow services.

Headquartered in Aventura, Florida, Elite International Realty specializes in luxury, residential and commercial real estate throughout south Florida. The brokerage said it has completed more than 10,000 transactions totaling more than $6 billion in sales volume.

This article was generated using HousingWire Automation and reviewed by a HousingWire editor before publication.