Key Insights:
- In the latest crypto news, DAMAC and Umisiri made headlines with their recent move into Dubai real estate.
- Purchases use wallets; titles remain off-chain.
- Not part of Dubai’s Prypco tokenization effort.
- Builds on DAMAC’s $1B MANTRA deal.
In a recent development in the crypto market, Dubai-based real estate developer DAMAC Properties and investment firm Umisiri Africa have opened a new chapter in luxury real estate transactions by allowing buyers to purchase properties using cryptocurrency. This significant move not only highlights the growing acceptance of digital currencies but also sets a precedent for integrating traditional assets and blockchain technology.
Crypto Market News: Digital Asset Payments for Real Estate
As of June 2025, Umisiri and DAMAC have launched a program enabling crypto holders to acquire properties starting at $500,000 using popular cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), or Tether (USDT). This initiative was unveiled through a Luma-hosted event titled “Token to Title Deed: Investing in DAMAC Through Crypto.” Aimed at attracting high-net-worth individuals looking to diversify their investments in Dubai’s lucrative real estate market, the program is both innovative and user-friendly.
Interested buyers are required to register and connect a verified crypto wallet before proceeding. Once their wallet is approved, they gain exclusive benefits like private property tours, personalized discussions with DAMAC advisors, and legal guidance from attorneys specializing in cryptocurrency transactions. This seamless onboarding process ensures that customers can navigate their investments with confidence and ease.
While payments are facilitated through digital assets, the legal framework governing property ownership remains unchanged within the UAE. This careful balance of innovation and adherence to existing regulations underscores the importance of compliance in the evolving real estate and cryptocurrency landscapes.
Not Tokenization, Just Crypto Payments
It’s essential to clarify that this innovative offering by DAMAC and Umisiri differs from the Dubai Prypco Mint platform. While Prypco enables fractional on-chain ownership, the DAMAC-Umisiri model utilizes cryptocurrency as a payment method but maintains the title deeds off-chain. This means that buyers receive conventional legal ownership of their properties through the Dubai Land Department, often via offshore entities, which are permitted under UAE law. Notably, no blockchain token is created for the property title itself.
In contrast, the Prypco Mint platform, launched by the Dubai Land Department in May 2025, allows for direct tokenization of real estate. This platform successfully engaged investors across more than 40 countries, raising approximately AED 2.4 million ($653,000) in record time. Tokenized ownership certificates issued on the XRP Ledger exemplify the burgeoning interest in tokenized assets within the region, with the tokenized property market in Dubai projected to exceed AED 60 billion ($16 billion).
Under the Umisiri-DAMAC model, using crypto merely serves as a payment method while complying with UAE property law for title transfers. Foreign buyers generally acquire real estate in Dubai through offshore corporate structures, which this program supports. The involvement of legal advisors ensures the secure transfer of ownership and compliance with regulatory standards, providing access to essential estate planning tools.
This approach appeals to crypto investors who wish to leverage their digital assets in property transactions without entering the complexities of on-chain ownership. Additionally, it presents an opportunity for DAMAC to connect with a growing demographic of crypto-wealthy investors while awaiting further regulatory clarity concerning property tokenization.
DAMAC’s Broader Blockchain Strategy Aligning with Crypto News Narrative
DAMAC’s commitment to integrating blockchain technology into its business model is evident in its initiatives. Earlier this year, the company signed a monumental $1 billion deal with blockchain firm MANTRA, designed to tokenize future real estate projects on the MANTRA blockchain. This future initiative aims to issue digital tokens representing fractional ownership of real estate assets, marking a significant leap forward in the intersection of real estate and blockchain technology, although it remains separate from the current Umisiri crypto-payment program.
The UAE’s ongoing evolution as a crypto-friendly jurisdiction is becoming increasingly prominent, especially with regulatory sandboxes in Dubai and Abu Dhabi fostering innovations in areas like tokenized real estate, stablecoins, and crypto-backed loans. The Umisiri-DAMAC crypto purchase model exemplifies this progress, creating a bridge between traditional finance and emerging digital asset markets.
As digital currencies gain traction in real-world transactions, initiatives like this highlight the shifting dynamics of high-value asset transactions, especially in emerging markets. The DAMAC and Umisiri program not only facilitates legal ownership of real estate through innovative payment methods but also represents a growing trend towards integrating digital finance with traditional asset investment.
