Startup Propy deploying $100M to put real estate deals on the blockchain

Key Points:

• Propy, a Miami-based blockchain company founded in 2017, aims to modernize the lengthy and paper-heavy real estate closing process by consolidating title and escrow services into an AI-powered, blockchain-based platform.
• The company secured a $100 million credit facility from Metropolitan Partners Group to support acquisitions of title companies and develop an end-to-end closing system that uses smart contracts to automate transactions, reducing closing times from weeks to hours.
• Propy has introduced an AI agent named Avery, which manages client communications, extracts transaction data, and facilitates escrow processes 24/7, enhancing efficiency and client experience.
• The passage of the GENIUS Act legitimized blockchain use in real estate by regulating stablecoins, enabling Propy to legally accept cryptocurrency payments and record transactions on the blockchain, attracting interest from developers and international buyers.
• CEO Natalia Karayaneva emphasizes blockchain's potential to provide immutable, fraud-resistant property records, especially benefiting developing countries and ensuring decentralized ownership in the world's largest asset class.