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Five commercial real estate units at Mohawk in Wynwood, Miami have been purchased for $14 million in USDT, according to real estate-focused tokenization company Propy.
Propy said it facilitated the sale of the units being developed by Rilea Group.
CoinDesk was first to report the news.
Propy claimed it was the first time commercial real estate units have been sold for cryptocurrencies in the Miami real estate market.
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"This milestone reflects growing confidence in digital asset rails for commercial real estate, with Propy providing the compliant title and escrow infrastructure that enables these deals to close efficiently,converging the benefits of AI and blockchain," Propy CEO Natalia Karayaneva told Benzinga in an emailed statement.
Rilea Group did not immediately respond to a request for comment from Benzinga.
The record transaction comes as Rilea Group has expanded settlement options for several of its projects, including projects jointly developed with fellow real estate company Ciprés, to support compliant digital asset services, the statement Propy shared with Benzinga said.
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"Providing optional, compliant settlement alternatives gives buyers flexibility without changing how we structure or execute our projects," Rilea Group President Diego Ojeda said in the joint emailed statement Propy shared with Benzinga. "Propy is clearly ahead of the curve when it comes to digital-asset settlement — they're opening new frontiers for how global buyers can transact efficiently, and in this case, the platform performed exactly as intended."
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Rilea Group’s move is the latest sign of what appears to be growing integration of cryptocurrencies in the real estate market. Cryptocurrency real estate transactions reached approximately $4.2 billion in 2025, according to cryptocurrency-focused research outfit CoinLaw.