CryptEscrow and Kraken Team Up on Large-Scale Cryptocurrency Conversions
CryptEscrow, a service that facilitates the exchange of cryptocurrency for fiat currency in real estate transactions, has announced a strategic partnership with Kraken, a leading cryptocurrency exchange. The partnership will allow CryptEscrow to leverage Kraken's OTC (over-the-counter) services to convert large quantities of cryptocurrency into fiat currency.
CryptEscrow provides a service that enables real estate buyers to exchange their cryptocurrency holdings for US dollars, which can then be used as payment for traditional real estate transactions. The company receives the cryptocurrency from the buyer and exchanges it for US dollars just before the real estate transaction is settled.
The partnership between CryptEscrow and Kraken will provide a solution for high-end real estate transactions that require large-scale conversions of cryptocurrency to fiat currency. Kraken's OTC services will provide the necessary liquidity and execution capabilities to facilitate these large transactions.