Real estate investment and management firm Jamestown is warming to cryptocurrencies. Well, kind of.
The company said that it is going to accept rent payments in the U.S., and eventually in Europe, in cryptocurrency. The transactions will happen through BitPay, a provider of cryptocurrency payment services. "Jamestown will accept rent payment in a range of cryptocurrencies that initially include Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Wrapped Bitcoin (WBTC), Dogecoin (DOGE), Litecoin (LTC), and five USD-pegged stablecoins (GUSD, USDC, USDP, DAI, and BUSD)," a press release noted.
"Notable assets in the program include Ponce City Market in Atlanta, Ballston Exchange in Arlington, and Levi's Plaza in San Francisco" and make up about 26 million square feet in space, the release continued. Jamestown will also give retail tenants the option of paying in cryptocurrency. It is also considering a program in which the company's employees could opt to receive part of their pay in crypto.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.