He buys a house in cryptos, the seller receives euros: a first in France

Buy a property in cryptocurrency but pay the seller in euros, to reassure him. It is now possible in France, thanks to the technology developed by the JBDA start-up.

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On June 19 at 2 p.m., a 35 -year -old employee and his family will become owners of their main residencea house located in the Lyon region. An event like many families know it, except that this acquisition has been financed in … cryptocurrency. More specifically in “stable“, Specifies Capital Emeric Fillatre, co-founder of JBDA, a start-up based in the Alpes-Maritimes, at the origin of the Legibloq solution, which allows the real estate seller of Receive the product of the transfer in euros and not in cryptocurrency, “A first in France”assures the manager. A car size asset “It is not easy, for a real estate seller, to accept a payment in cryptocurrency”given the volatility of this type of asset, underlines Emeric Fillatre.

Once the house of his dreams found, and after seeing his offer to 370,000 euros Accepted by the seller, the buyer contacted JBDA, co-company between the company Jarvix, specializing in the blockchainand the law firm Bruzzo Dubucq, reports Emeric Fillatre. After having verified the origin of the stablecoins intended to finance this acquisition, JBDA, via its Legibloq solution, placed them on a sequestration account And sent the buyer to one of his three partner notaries to develop the sales compromise.

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A safety margin requested to compensate for the volatility of cryptos

The act of authentic purchase will be signed on June 19 at 2 p.m. But how can we be sure that the stablecoins placed on JBDA’s sequestration account will always be worth 370,000 euros at that time? “They have already lost 7%”recognizes Emeric Fillatre. This is why by calculating a probability of decrease on the basis of the prices history, JBDA asked the buyer “a safety margin 30%” In addition, that the sum of stablecoins corresponding to 370,000 euros.

If all of this safety margin is not used, it will of course be returned to the buyer. JBDA having received the notary’s funding of funds, the company is preparing to convert, “Probably this Wednesday”Stablecoins in euros in order to transmit them to the study, via the latter’s account at the Caisse des Dépôts et Consignations. “Notaries do not handle cryptocurrencies”specifies Emeric Fillatre. The seller, therefore, therefore: “He is not even necessarily aware that the buyer paid in cryptos, he only receives euros”insists the co-founder of JBDA. He hopes to raise one of the main brakes on real estate purchase in cryptocurrencies. Just to stick to the air, some 5.5 million French people holding more than 20 billion euros in crypto-assetsaccording to JBDA, also requested by real estate agencies “Faced with requests for funding in cryptos”.