FTX.US, E11EVEN Hotel & Residences Miami Partner On Real Estate

E11EVEN Hotel & Residences Miami announced a partnership with regulated cryptocurrency platform FTX.

The luxury high-rise condominium in Miami’s Park West district will be handling its cryptocurrency conversions for project deposits and residential transactions with FTX.

“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.”

Why It Matters: The development marks FTX’s entry into the real estate market and establishes developers PMG and E11EVEN Partners as real estate trailblazers.

PMG first announced it would 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 accepts cryptocurrency for transactions at its globally renowned nightlife venue, E11EVEN Miami.

Through the aforementioned deal, buyers utilizing cryptocurrency for either the remaining available inventory at the development or each following deposit will have their payments converted through FTX.

“Miami is at the epicenter of cryptocurrency’s recent boom and is drawing worldwide attention for its flourishing market,” FTX.US President, Brett Harrison commented. “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.”