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Miami real estate is being bought and sold using cryptocurrency. Recently, a longtime cryptocurrency investor and businessman paid the equivalent of $7 million dollars in USD Coin for a unit in Downtown Miami.
According to property records obtained by Miami’s Community Newspapers, the seller was Fernand Talpe, founding partner of a Design District interior design firm, The Private Collections, who was represented by Isabel Rocha Silva of the Piquet Law Firm. The buyer, Sergio Gutierrez, a Costa Rican software developer, was represented by Coral Gables-based attorney Richard Barbara, who along with Coral Gables Title + Escrow, closed the transaction.
Coral Gables Title is owned by Barbara, Rodney Barreto and his son, Brad Barreto.
The transaction was completed using “USD Coin,” a form of crypto currency known as a “stable coin.” 1 USD can always be redeemed for $1, giving it a stable price.
