RE/MAX is one of the best known real estate brands in the world. Recently, the RE/MAX London delegation has announced it will accept bitcoin as a payment method for property rentals. The company entered into a partnership with an equally recognized payment processor, the GoCoin platform. GoCoin delivers a fast and secure service that will relieve RE/MAX of the price volatility risk involved with bitcoin and other cryptocurrencies.
RE/MAX has an established presence in the UK, with 180+ associates and 46 offices, 16 of which are in London. RE/MAX will be the first real estate agency in the UK to allow its clients and consumers to make payments for property rentals with Bitcoin Litecoin and Dogecoin.
With this move, the company is trying to get into the flourishing digital economy, believing that it holds the potential to deliver a world-standard currency. This will also benefit both RE/MAX London and its tenants by offering instant and frictionless payments without the high fees usually associated with credit cards and other traditional payment methods. Furthermore, it opens up the market for international customers who can as of now rent a flat with bitcoin before landing in London.
When questioned about this recent merge test with RE/MAX London, GoCoin’s co-founder and CEO, Steve Beauregard stated:
“GoCoin is a founding member of the Innovate Finance initiative and is located in co-working space Level39 which is a hub of fintech startups. From an industry perspective, you’re looking at an emerging technology, so any new vertical that adopts cryptocurrency is further validating the market and giving it momentum. It also helps that RE/MAX is the leader in its space.”
GoCoin allows merchant operators to safely accept digital currencies without being exposed to their potential market volatility. Merchants are allowed to choose whether to keep the cryptocurrency or to convert all or even part of it into traditional fiat including USD, GBP, Euros and Singapore Dollars.
Peggy Su, regional owner and director at RE/MAX London said:
“RE/MAX is proactively leveraging emerging technologies; RE/MAX has just topped representation in over 95 countries: this represents over one third of the world hence the importance of providing extensive options of payment methods for our clients and consumers in today’s market. Together with GoCoin, we are realizing the efficiencies of the new payments technology and its ability to add value to our internal business operations.”
For now, it is only the RE/MAX London delegation currently accepts bitcoin. However, the company may spread their digital currency integration to other RE/MAX franchise businesses around the world.
Special thanks to Amanda Coolong
RE/MAX is an International leader in the real estate business. What do you think this integration might represent to the digital currency industry? Let us know on the comments below!