Two Portuguese real estate projects were sold in cryptocurrencies worth more than four million euros

In Portugal, Prometheus International has sold two luxury villas under construction on the island of Madeira for a value of 4.1 million euros. These houses were paid for in cryptocurrencies. This was reported to Cointelegraph in Spanish through a statement.

The properties of the Aurora and Saudade coastal projects (on Madeira Island) were the features that were highlighted in these transactions.

Prometheus CEO Priyesh Patel announced that the company reached an agreement in August to sell the two luxury villas using the Cardano cryptocurrency as a payment method.

Two Portuguese real estate projects were sold in cryptocurrencies worth more than four million euros
Two Portuguese real estate projects were sold in cryptocurrencies worth more than four million euros

The company has developed new protocols that make it possible to integrate this new market area into its internal KYC (Know Your Costumer) requirements, to complete the transaction in euros before registration and thus in accordance with European laws.

Ownership of the property will also be available as an NFT (non-fungible token), which will allow future owners to resell the property using blockchain technology.

In the statement, they stated that Prometheus’ legal team will ensure that transfers and ownership records comply with applicable laws until local governments introduce blockchain technology into their processes.

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