Paris Hilton’s Father to Sell $38M Mansion for Crypto

Palazzetto mansion is designed by the Michelangelo's apprentice architect Giacomo della Porta
19 June 2018   845

Owned by businessman Rick Hilton, the father of the reality show star Paris Hilton, the elite real estate company Hilton & Hyland announced the sale of the Roman mansion of the XVI century at a cryptocurrency auction, CCN reported.

Located in the historic center of Rome, the Palazzetto mansion, designed by the Michelangelo's apprentice architect Giacomo della Porta, has 11 bedrooms and 15 bathrooms. Palazzetto will be put up for sale on the decentralized trading platform Propy for $ 35 million.

Propy uses blockchain to eliminate the complexities associated with cross-border transactions. The mansion in Rome will be the most valuable asset in the company's portfolio and the most expensive real estate object that has ever been sold for a cryptocurrency.

The auction shows real estate’s growing trust in blockchain and provides crypto investors an opportunity to diversify and solidify their portfolio with a trophy asset.
 

Rick Hilton

Co-founder, Hilton & Hyland

In 2017, 20 houses were sold for cryptocurrency, including a house in Miami with seven bedrooms at a price of 455 bitcoins (equivalent to $ 6 million).

Binance Singapore Unit to Apply For License

Under the new law, aimed at regulating crypto paymetns and trading, firms must register with the Monetary Authority to receive a license
17 February 2020   211

Binance, a Singapore-based cryptocurrency exchange unit, has applied for a license under the new Payment Services Act, which entered into force on January 28.

We have already applied. We submitted the application pretty fast. Binance’s Singapore entity has been in close touch with the local regulators, and they have always been open-minded.

 

Changpeng Zhao

Founder and CEO, Binance

Under the new law, crypto companies in Singapore must register with the Monetary Authority and receive one of three licenses: an exchange of money, a standard or large payment institution. The measure is aimed at regulating payments and crypto trading using requirements for participants in the traditional finance industry. Zhao did not specify which of the licenses Binance Singapore chose.

Binance has been offering crypto-fiat trading services in Singapore since April 2019 and works with eight coins, including Bitcoin, Ethereum and XRP. The trading platform is supported by Vertex Venture Holdings, a venture division of Singapore's Temasek Holdings.