Harbor Custom Development Inc told investors that it anticipates accepting Bitcoin and 12 other digital currencies as payment for its listed land, developed lots, residential homes, condominiums, and apartments in its operating markets in Washington, California, Texas, and Florida beginning January 24, 2022.
The Gig Harbor, Washington-based company said in addition to Bitcoin, it will also accept Ethereum, USD Coin, XRP, Dogecoin, SHIBA INU, Binance USD, Wrapped Bitcoin, Litecoin, Dai, Bitcoin Cash, Pax Dollar and Gemini Dollar.
Before the January 24, 2022 launch date, it said it may add or subtract certain digital currencies from the current approved list, based on market conditions. All real estate transactions will be settled in US dollars, the company added.
READ: Harbor Custom Development acquires 438-acre master planned community near Vancouver, B.C. for $14M
“Acceptance of digital currencies for our real estate offerings is a logical step for Harbor and demonstrates our flexible business model that separates us from our industry peers,” the company’s chief operating officer Jeff Habersetzer said in a statement.
By accepting digital currencies, Harbor said it not only opens the door to entities with combined market caps exceeding $1 trillion of purchasing power but places it in a first-mover position of adoption.
“We anticipate taking additional steps to further our presence and adoption of Web 3.0.,” president and CEO Sterling Griffin added.
“Our clear objective is to drive shareholder value while acting as the thought leader within our industry group.”
Harbor Custom Development is a real estate development company involved in all aspects of the land development cycle of various residential projects in Western Washington's Puget Sound region; Sacramento, California; Austin, Texas and Punta Gorda, Florida.
Contact the author at stephen.gunnion@proactiveinvestors.com