RealOpen is a financial platform that enables cryptocurrency holders to purchase real estate by converting digital assets into fiat currency at closing, ensuring sellers receive cash without the need for crypto-friendly transactions. The platform's RealScore system assesses the stability of buyers' crypto portfolios, mitigating volatility risks and facilitating seamless transactions across global real estate markets.
Funding
Funding not disclosed
Founders
Product
Problem
Cryptocurrency holders face challenges when purchasing real estate due to the reluctance of sellers to accept digital assets directly and the complexities of converting crypto to fiat currency before making an offer. Traditional methods of cashing out crypto before a purchase contract can lead to unwanted tax implications and missed investment opportunities if the deal falls through.
Solution
RealOpen provides a platform that enables cryptocurrency holders to buy real estate by converting their digital assets into fiat currency at the time of closing, ensuring sellers receive cash without directly handling crypto. The platform eliminates the need for buyers to find crypto-friendly sellers or prematurely liquidate their crypto holdings. RealOpen's RealScore system analyzes the stability of a buyer's crypto portfolio, providing sellers with assurance regarding the offer's reliability. By executing off-market, off-chain trades, RealOpen minimizes slippage and maximizes the value of the crypto used for the real estate investment.
Target Audience
The primary target audience includes cryptocurrency holders looking to invest in real estate and real estate sellers seeking to expand their buyer pool to include crypto investors.
Features
- Converts crypto to fiat currency at closing, allowing buyers to make all-cash offers.
- Supports purchases using Bitcoin, Ethereum, USDC, and other marketable cryptocurrencies.
- RealScore system assesses the stability of crypto portfolios to mitigate volatility risks.
- Facilitates real estate purchases in any location globally.
- Executes off-market, off-chain trades to minimize slippage.
- Complies with KYC and AML regulations through partnerships with regulated institutions.