Real estate. Crypto. No license. What could go wrong?
Crypto meets condos—without a license?
According to a recent investigation by FinTelegram, crypto payment processor CoinsPaid has quietly launched a real estate project in collaboration with “Crypto Homes”, a luxury property offering in Dubai. The catch? CoinsPaid allegedly operates this high-value product without appropriate financial or investment licenses.
On its dedicated microsite, the company invites users to purchase apartments in Dubai using USDT or other digital assets, offering “high returns, exclusive locations and secure payments via CoinsPaid.” But critics argue the setup resembles an unlicensed investment scheme, blurring the line between payments facilitation and regulated securities sales.
What’s the problem?
| Concern | Details |
|---|---|
| Regulatory overreach | CoinsPaid is licensed as a VASP in Lithuania, but not for real estate sales or investment solicitation. |
| No investor protection | Users transferring crypto for property deals have no deposit protection, no escrow guarantee, and no clarity on developer risks. |
| Tokenised marketing, no token | Despite its crypto angle, there’s no underlying tokenisation, just a basic sales pitch wrapped in crypto branding. |
FinTelegram warns that without oversight from bodies like the DFSA or ESMA, users may be misled into thinkingthis is a secure, regulated investment—when it’s not.
Why it matters
The case highlights a growing trend: crypto-native companies entering traditional industries (like real estate or lending) without adjusting to the regulatory environment. It also signals the risk of reputational spillover for other regulated crypto payment providers—especially in the EU, where MiCAR is tightening the screws on financial promotion and cross-border asset marketing.
CoinsPaid’s positioning
CoinsPaid markets itself as “Europe’s leading crypto payment gateway”, serving merchants and online platforms with tools to accept digital assets. It is registered as a Virtual Asset Service Provider (VASP) via Dream Finance OU in Lithuania—but this registration does not cover real estate investment advice, brokerage, or asset sales.
According to FinTelegram, CoinsPaid has not responded to formal questions about the project’s legal structure, real estate partners, or investor protection measures.
Bottom line
CoinsPaid’s “Crypto Homes” venture might appeal to high-risk crypto whales looking for Dubai property deals, but it walks a dangerous regulatory line. Without transparent legal backing or investor safeguards, users should approach the offer with extreme caution.
As crypto matures, the message is clear: you can’t market luxury homes like tokens—at least not legally.
