Sale of $175,000 House Settled with USDC Stablecoins
Origiinally Published on theDifient
In the latest sign that the property industry is finding NFTs a new sales tool, Roofstock, a digital real estate platform, sold a single-family home in South Carolina for $175,000 via OpenSea.
The sale was settled using the USDC stablecoin and financed by USDC Homes, a lending pool operating on the Polygon deployment of Teller — a decentralized lending marketplace.
USDC Homes works with a network of underwriters and data providers to verify the identity and creditworthiness of borrowers. The platform offers both secured and unsecured lending options, with ETH, BTC, USDC, and other cryptocurrencies supported as collateral. Borrowers can submit off-chain data to support their creditworthiness when applying for loans.
“I never imagined I could buy and finance a house with a simple click, rather than going through the time-consuming and cumbersome traditional settlement and mortgage process,” said Adam Slipakoff, a seasoned real estate investor and the buyer of the property, in a press release. “Instead of waiting months for underwriting, appraisals, title searches and preparing deeds, I was able to buy a fully title-insured, rent-ready property with one click.”