Finns Bali Becomes World’s First Real Estate Developer to Accept Cryptocurrency

The Indonesian lifestyle brand announced today that it will become the first major developer to accept cryptocurrency as payment for real estate

CANGGU, BALI, INDONESIA, October 1, 2021 /EINPresswire.com/ — Finns Bali, Indonesia’s leading lifestyle brand and real estate developer, announced today that it will accept cryptocurrency in a first-of-its-kind sale of luxury apartments, allowing crypto holders the freedom to convert their digital assets into fully-managed property through secure transactions.

In a global first for real estate development, investors will be able to convert their cryptocurrency holdings into tangible assets on the island Trip Advisor calls the world’s most popular destination in 2021. With the construction of 206 fully-furnished luxury apartments at Finns Lifestyle Village (FLV), FLV’s industry-leading move to facilitate crypto payments comes as Finns Bali’s latest innovative bid to continue Bali’s explosive growth. The development is endorsed by The Bali Tourism Board.

“People around the world looking to reap the rewards of investing early in cryptocurrency are discovering they’re faced with no reliable option to convert their crypto into something they can actually use; Finns Lifestyle Village will fill that gap,” said Beau Whittington, Chief Strategy Officer at Finns Bali. “The construction of FLV and our decision to give our customers the ability to convert crypto into offline assets are designed to keep Bali at the forefront of innovation while encouraging responsible investment on the island. By embracing cryptocurrency and offering our buyers the flexibility to simply and securely convert their digital assets, we’re reminding the world that Bali is still the place you go to find freedom and tranquility.”

Crypto-holders who typically must convert their holdings into fiat currency—shouldering additional tax responsibilities, third-party broker fees, and price fluctuations during the transaction processes—will work directly with Finns Global Ltd, Finns’ parent company in Singapore, to carry out secure, private transactions that adhere to regulatory protocols to protect both buyer and seller. Additionally, Finns Bali will pay all taxes on the transaction, ensuring a compliant and simplified process. Presale of FLV begins online at www.finnslifestylevillage.com on October 4th 2021, and through Ekta blockchain in late October, 2021. FLV will also accept fiat currencies.

In addition to direct crypto sales of FLV, Finns Bali has partnered with Ekta to offer investors the opportunity to buy fractions of FLV apartments and villas on Ekta. Ekta, the first blockchain in the world to tie fractionalized NFTs (F-NFTs) to real estate and property, has been working with Bali developers to bring their properties on-chain. F-NFTs allow a piece of property to be fractionalized into many pieces and sold, and owners of Ekta F-NFTs are entitled to monthly rental income and price appreciation proportionate to the percentage they own. Investors who use Ekta’s native token (EKTA) for F-NFT…