RLTY Capital is set to be the first specialty finance service to pay brokerage commissions in cryptocurrencies. CEO of the firm Briggs Elwell said that the decision comes in the wake of growing cryptocurrency adoptions and increasing use cases. He added that they are working on making the process fast and seamless to give brokers who work with them an edge over other brokers. In some regions of the United States like New York and South Florida, demand for brokerage in crypto is on the rise. RLTY Capital operates primarily in South Florida, and the brokers from Florida will be the first ones to benefit from this scheme.
The last few years have seen an astronomical rise in the number of people accepting salaries and commissions in cryptocurrencies. A recent report from CNBC highlighted how artists are charging in cryptocurrencies to earn more than they would otherwise. In the past, athletes and politicians have made headlines for accepting salaries in cryptocurrencies. In Australia, a baseball club has decided to switch its balance sheet entirely to Bitcoin. Keeping these developments in context, offering brokerage commissions in cryptocurrencies is a natural progression.
Use cases of cryptocurrencies, especially Bitcoin, have increased in diverse sectors. People can now do anything from flight booking to shopping with Bitcoin. However, there is a lot of work left to be done in the space, and the coming years will see an even further increase in real-life uses of Bitcoin.