A three-room (two-bedroom) apartment in Braga, Portugal, was purchased entirely with bitcoin, with no conversion to fiat cash. According to local media sources, the transaction represents a first in the nation's real estate sector.
The new buyer was charged three bitcoins (BTC) for the house, worth roughly 110,000 euros at the time. The title document was handed in this previous Thursday, May 5, at Porto's Póvoa de Varzim district, according to the business online news Idealista.
Real estate agent Zome, law company Antas da Cunha Ecija, and Switzerland's Crypto Valley partners assisted with the transaction. The President of the Portuguese Chamber of Notaries was also present.
In Portugal, property may now be purchased directly using cryptocurrencies according to a new regulation recently established by Notaries. This organization governs notary services in collaboration with the Ministry of Justice.
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Before now, making a payment to a vendor requires first converting the coin to euro. Real estate acquisitions may now be conducted entirely in cryptocurrency, with digital currency traded for property rights.
To conform to anti-money laundering regulations, conducting such sales. Before the coins are sent, the source of the fiat monies — a bank account — used to acquire the digital assets must be specified, and the public address of the crypto wallet.
The Central Bank of Nigeria (CBN) is advancing with efforts to expand the usage of the nation's central bank digital currency (CBDC) to a wider variety of products and services. It also maintains stringent crypto regulations that have hampered the nation's fintech industry.
As per a story from Vanguard, CBN branch controller Bariboloka Koyor spoke at a market in the country's most populated metropolis of Lagos on Monday as part of a push to "sensitize" companies to the eNaira. Koyor stated:
"Starting next week, the eNaira fast wallet app will receive an upgrade that will allow you to do transactions like as paying for DSTV, utility bills, and even airplane tickets."
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The change, according to Koyor, was released to make enrollment simpler, highlighting its wallet, which has no fees and is quicker than online banking. He went on to say that in the future, the eNaira will be the sole currency accepted by the government, emphasizing the benefits of early adoption:
"This is an initiative that the CBN has carried out to reach every Nigerian in terms of financial inclusion and banking transaction efficiency, dependability, and safety so that we can make banking transactions very simply and safely and Nigerians can benefit from the eNaira."
