E11EVEN Hotel & Residences Miami Announced Partnership With Regulated Cryptocurrency Platform FTX.
Miami’s Park West luxury condominium will take care of its Cryptocurrency conversions for project deposits and residential transactions with FTX.
“As FTX continues to develop its presence in the Miami area, we couldn’t think of a better time to work with such a prestigious cryptocurrency exchange platform,” said Ryan shear, Managing Partner of PMG, co-developer of E11EVEN Hotel & Residences Miami. “We anticipate that this partnership with FTX will bring increased security to our cryptocurrency payment processes offered to buyers due to their extremely diverse portfolio and impressive experience.”
Why is this important: The development marks FTX’s entry into the real estate market and establishes developers PMG and E11EVEN Partners as real estate pioneers.
PMG first announced that it would accept cryptocurrency for condominium deposits in pre-construction projects through E11EVEN Hotel & Residences Miami.
Additionally, E11EVEN Partners, the hotel brand co-developing E11EVEN Hotel & Residences with PMG, announced in April that it accepts cryptocurrency for transactions at its world-famous nightlife venue, E11EVEN Miami.
Through the aforementioned agreement, buyers using the cryptocurrency for the available inventory remaining in development or for each subsequent deposit will have their payments converted through FTX.
“Miami is at the epicenter of the recent cryptocurrency boom and is gaining worldwide attention for its thriving market,” commented FTX.US President Brett Harrison. “We look forward to working with what will be such a big project in downtown Miami with PMG and E11EVEN Partners. As we continue to grow our presence in Miami, we are excited to bring cryptocurrency payments to the real estate market through this partnership. “
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