• Wednesday, April 17, 2024
businessday logo

BusinessDay

Nigerian firms partner to ease real estate investment with blockchain

Nigerian firms partner to ease real estate investment with blockchain

Distress Property Market Ltd and Wallstreet Exchange have partnered to tackle challenges in Nigeria’s property market, leveraging the power of blockchain technology. This collaboration aims to streamline transactions, widen access to investment, and ultimately empower individuals through innovative financial solutions.

This partnership comes at a pivotal time, coinciding with the recent launch of the cNGN stablecoin and the Nigerian government’s embrace of cryptocurrency as legal tender. The duo sees this as an opportunity to bridge the gap between traditional finance and the booming real estate sector, projected to reach a staggering US$2.26 trillion in value.

“We’re thrilled to join forces with Wallstreet Exchange,” said Alex Udeze, CEO of Distress Property Market. “Combining our expertise in real estate with their financial prowess, we’re poised to reshape the industry.

“Our collaboration will not only transform the landscape of property ownership in Nigeria but also empower people through accessible and secure financial tools,” Samuel Nduka, CEO of Wallstreet Exchange, said.

By leveraging Wallstreet Exchange’s advanced crypto platform, the partnership promises faster, more efficient transactions. “We’re bringing the ease and convenience of cryptocurrency to the world of real estate,” Udeze explained.

Financial inclusion is a key focus, with the aim of using blockchain’s decentralized nature to open up investment opportunities to a wider audience. “We’re putting real estate investment within reach of everyone, regardless of their background or financial status,” Udeze added.

Innovative products are also in the pipeline, blending the stability of real estate with the dynamism of cryptocurrency to create unique investment avenues.

Recognising the importance of education, both Udeze and Nduka emphasized their commitment to public awareness initiatives. “Understanding cryptocurrency and blockchain is crucial for unlocking the full potential of this partnership,” Nduka stated. “We’ll be working to educate the public and showcase the significance of real estate investment for financial independence in Africa.”

Additionally, regulatory compliance remains a top priority for the venture. “We’re working closely with Nigerian authorities to ensure full adherence to the evolving legal framework surrounding cryptocurrency,” Udeze affirmed.

This partnership marks a significant step towards a future where real estate investment in Nigeria is inclusive, secure, and accessible to all, powered by the transformative potential of blockchain technology.