news 
Title: Crypto News: Christie’s Enters the Crypto Real Estate Game with $1B Property Portfolio
In a groundbreaking move, Christie’s International Real Estate, one of the largest American brokerages, has ventured into the crypto real estate market by launching a division that specializes in digital currencies. This innovative approach enables sellers and buyers to transact without involving traditional banking systems.
The newly formed unit, led by Christie’s Southern California CEO Aaron Kirman, manages an astonishing $1 billion worth of properties listed in cryptocurrency only. This milestone marks a significant step towards mainstream adoption of crypto real estate transactions.
Christie’s is expanding its existing business model to cater to the growing demand for anonymity and privacy in high-end property purchases. According to Kirman, many wealthy crypto asset holders prefer to maintain their identities concealed, avoiding traditional banking systems altogether. By embracing blockchain-based asset transactions, they can successfully keep their ownership private.
To ensure the security of these crypto transactions during trading, Christie’s has established a legal and crypto compliance team consisting of lawyers, analysts, and experts in cryptocurrency. This team will conduct thorough legal checks on the origin of assets to guarantee their legitimacy.
The entry into the crypto real estate market aligns with regulatory developments in the US Federal Housing Finance Agency (FHFA), which recently directed Fannie Mae and Freddie Mac to explore treating crypto as a reserve asset in risk assessment for mortgages.
Source: coinpedia.org
