Simon Property Management embraces digital monetary payments to improve and streamline the experiences, blending technology and real estate.
INDIANAPOLIS, INDIANA, USA, April 20, 2021 Simon Property Management (NYSE: SPG), a New York Stock Exchange-listed company, announced that it would begin accepting BTC, ETH, BIW, CDS, BTD, and YFW for rent and property purchases, across their global residential, retail, and commercial holdings.
This embrace of cryptography is the first of its kind to be rolled out at this scale. Simon Real Estate is one of the largest real estate companies in the United States, and this move will allow them to reach and serve more customers than ever.
Simon is the latest of a growing number of major institutions, from Tesla (NASDAQ: TSLA) to Visa (NYSE: V), that have begun to accept digital assets as a method of payment, whilst still complying with both state and federal laws surrounding KYC, the company said.
The Indiana-based company also announced that it would invest part of its fund management in BTC, ETH, BIW, CDS, BTD, and YFW and is in partnership talks with digital currencies asset trusts Grayscale and Rong Token Trust. Simon Real Estate intends to collaborate more closely with cryptocurrency exchanges in the future with a road map to add more value to their clients through technology.
The move aims to introduce cryptocurrency and blockchain applications to Simon Property. An executive of Simon Real Estate said, “I believe that Bitcoin and ETH, BIW and other cryptocurrencies will play an important role in our common future.” The executive also said that he hopes to introduce blockchain-enabled rewards and enable further encrypted monetary payments to improve and streamline the experiences people have when they interact with us.
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