Brazilian homebuilder Gafisa to accept bitcoin for real estate purchases

Brazilian real estate developer Gafisa (OTCPK:GFASY), in partnership with cryptocurrency gateway provider Foxbit, has enabled bitcoin (BTC-USD) as a payment method for the purchase of real estate, according to a release dated May 19. Bitcoin (BTC-USD) and other major digital tokens help eliminate intermediaries, reduce transaction costs while eliminating the risk of fraud, the release said. “Bitcoin is the largest cryptocurrency in market value and, technologically, the most ballast currency in history,” said Gafisa CEO Guilherme Benevides. “It is a currency that is growing in popularity every day, also expanding the possibilities of its use.” The move comes as Brazillian fintech NuBank, a subsidiary of Nu Holdings (NU), recently introduced bitcoin (BTC-USD) and ethereum (ETH-USD) trading on its platform. Take a look at Gafisa's Q1 earnings call transcript.