London-based real estate developer The Collective has made it possible for its tenants to pay their deposits in Bitcoin. This was also a first for England. It is the first time a digital currency has been used in the housing market in the country.
The Collective reportedly will also accept rental payments in Bitcoin until the end of this year. The company explained that the demand came mainly from international customers.
‘Bitcoin is a fascinating development’
The company’s founder and director, Reza Merchant, said:
“Digital currencies and Bitcoin are a fascinating development for humanity. In the future, people will use them to pay for their basic expenses, including deposit and rent.”