RealOpen enables crypto holders to use their digital assets to purchase real estate without requiring the seller to accept cryptocurrency.
Buyers can verify crypto assets held in self-custody and generate a Proof of Funds through RealOpen, allowing them to demonstrate purchasing power without moving their assets to an exchange or other custodian.
For cash purchases, buyers can make offers using their verified crypto assets. When it’s time to close, the buyer sends crypto to RealOpen, the assets are converted to fiat through institutional OTC liquidity providers, and RealOpen wires the purchase funds directly to the closing agent, escrow company, attorney, or notaire. This allows crypto holders to purchase virtually any property from any seller while the seller and closing parties receive traditional fiat currency.
RealOpen also integrates crypto assets with traditional mortgage financing. Buyers can use verified self-custodied crypto assets to help qualify for a mortgage and can fund their down payment and other closing funds with crypto through RealOpen. RealOpen provides lenders and other transaction parties with the documentation and transaction records needed to verify assets and establish the source and movement of funds throughout the transaction.
This solves a significant problem for crypto holders who maintain assets in self-custody: demonstrating verifiable Proof of Funds and using those assets in a conventional real estate transaction without first moving them to an exchange simply to establish ownership and value.
RealOpen does not tokenize real estate, sell fractional ownership interests, or create blockchain-based ownership interests in properties.
