E11EVEN Hotel & Residences Miami, a luxury high rise condominium in Downtown Miami’s Park West district, recently announced a partnership with West Realm Shires Services Inc. (“FTX.US” or “FTX”), a leading US-regulated cryptocurrency platform, as the sole platform handling cryptocurrency conversions for the project’s deposits and residential transactions. This announcement represents FTX.US’s first entry into the real estate market, further establishing developers PMG and E11EVEN Partners as trailblazers in the real estate industry and FTX.US as an innovator in the cryptocurrency financial services space.
“As FTX continues to grow its presence in the Miami area, we couldn’t think of a more ideal time to work with such a prestigious cryptocurrency exchange platform,” said Ryan Shear, Managing Partner of PMG, co-developer of E11EVEN Hotel & Residences Miami. “We foresee this partnership with FTX bringing increased security for our cryptocurrency payment processes offered to buyers due to their extremely diverse portfolio and impressive experience.”
In June, national developer PMG announced it is the first U.S. real estate developer to accept cryptocurrency for condominium deposits in pre-construction projects through E11EVEN Hotel & Residences Miami. Additionally, E11EVEN Partners, the hospitality brand co-developing E11EVEN Hotel & Residences with PMG, announced in April that it is accepting cryptocurrency for transactions at its globally renowned nightlife venue, E11EVEN Miami. Through this deal, buyers utilizing cryptocurrency for either the remaining available inventory at the development, or each following deposit, will have their payments converted through FTX.US.
FTX.US President, Brett Harrison commented on today’s news, “Miami is at the epicenter of cryptocurrency’s recent boom and is drawing worldwide attention for its flourishing market. We are looking forward to collaborating with what will be such a substantive project in Downtown Miami with PMG and E11EVEN Partners. As we continue to grow our presence within Miami, we’re excited to bring cryptocurrency payments into the real estate marketplace through this partnership.”