Cardano (ADA) Grows Stronger With Alonzo Upgrade and Green Blockchain Initiative
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According to a press release on 13th May 2021, Cardano (ADA), the 6th largest cryptocurrency by market cap, has joined the top cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE), as a means for customers to purchase luxury condos in Portugal.

This is made possible through the collaboration between Swiss crypto payments processor, FNTX Capital Suisse and Portuguese property developer, 355 Developments.

Read Also: Important Factors That Will Contribute to the Success of Cardano (ADA) in Africa

The announcement reads as follows:

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“The company’s custody, escrow, stablecoins, crypto exchange, fiat settlements, and AML/KYC solutions will streamline real estate operations and expand investment options for developers and investors.”

Read Also: PAC Global CEO Says He Prefers Cardano (ADA), Charles Hoskinson’s Steadily Released Product

The partnership between the two firms now allows customers to buy real estate in the Portuguese city of Lisbon in a seamless and efficient fashion via FNTX’s Real Estate Exchange, using Cardano (ADA), and other digital assets incorporated in the collaboration.

Reacting to the new development, David Rabbi, the founder of FNTX, said:

“What ultimately takes place now will say a lot about the future of both the property business, the world’s largest asset class, and blockchain industry.”

Read Also: Mike Novogratz Accepts Call With Charles Hoskinson To Prove Him Wrong About Cardano (ADA)

According to the report, the Swiss crypto payments processor expects its collaboration with 355 Developments and other quality residential projects to complete the business circle that is targeted at transforming the way people “market, search for, buy, sell and invest in properties.”

The firm also pointed out that digital currencies are still risky and highly volatile. So, crypto investors can choose to diversify into real estate, the report stated.

Cardano (ADA) in the Market

The crypto market is currently in a state of recovery following an unfavorable tweet about Bitcoin (BTC) the largest cryptocurrency by market cap, by Elon Musk, the CEO of Tesla, on 13th May 2021.

Read Also: Ethereum (ETH) Surpasses $500B, Beats Visa, Crushes Bitcoin Market Dominance Further

Although Cardano (ADA) was unaffected by the market downturn. The cryptocurrency even seized the opportunity to record a new all-time high of $1.93.

The resilience showcased by Cardano has been attributed to fact that it’s being powered by a proof-of-stake (PoS) consensus algorithm. At the time of press, ADA is trading at $1.87, with a relatively 5% price increase in the last 24 hours.

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Tobi Loba

By Tobi Loba

Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.