Digital rent processor ManageGo is integrating bitcoin, litecoin and ethereum into its payment app, and will soon allow tenants to use these cryptocurrencies to pay rent every month.
Using Coinbase's application programming interface (API), the app will convert any digital currency sent as payment into U.S. dollars, which will then be sent on to the landlords who use the platform to manage relationships with their tenants.
ManageGo vice president of business strategy Chaim Lowenstein told Technical.ly that the company does not intend to invest or hold the cryptocurrencies, but will instead immediately convert into fiat money.
He told the news source:
"We saw we could do this and take the risk out of it by converting it. … It would be like if someone wanted to pay with marbles and we could convert marbles overnight.”
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