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Japanese real estate conglomerate Open House Group has announced it will begin accepting cryptocurrency payments for property purchases, marking one of the first major real estate developers in Asia to embrace digital assets for property transactions.
The Tokyo-listed company, which operates primarily in Japan's major metropolitan areas including Tokyo, Nagoya, Osaka, and Fukuoka, will initially accept Bitcoin and Ethereum payments for income-producing properties, with plans to expand to other property types based on demand.
Bitcoin's network transaction volume reached $19 trillion in 2024, more than double the $8.7 trillion recorded in 2023, boosted by increased institutional investment following the U.S. Securities and Exchange Commission's approval of Bitcoin exchange-traded funds.
Open House Group has been exploring cryptocurrency and blockchain applications since 2022, including sponsoring research into Bitcoin's Lightning Network. The initiative is being led by Yokiko Nishimura, who has been involved in establishing industry associations for Japanese financial institutions and cryptocurrency exchanges since 2015.
Open House Group says it views cryptocurrency price fluctuations not as speculative movements, but as opportunities for practical application. In today's press announcement it said, “The company is particularly focused on harnessing the strengths of cryptocurrencies in cross-border transactions and micropayments to offer enhanced financial services. The company is also exploring the implementation of blockchain-based services utilizing smart contracts. As an initial step, Bitcoin and Ethereum payment options are being introduced starting today.”
Open House Group's property portfolio primarily centered in Tokyo, Nagoya, Osaka, and Fukuoka, spans residential houses, condominiums, and investment properties including studio apartments and office buildings. The company's integrated business model encompasses development, sales, and management services, and includes overseas properties in its portfolio, notably in the United States, and provides clients with consultation on all aspects of property research, construction, sales, and future resale within in a one-stop service.
The cryptocurrency payment service comes with several caveats for international buyers. All legal contracts and important documentation will be provided only in Japanese, and customers must comply with their local laws and tax regulations when using the service. At the service launch, sales will be limited to income-producing properties. Open House Group will gradually expand to other property types based on customer demand.
