First American Title will settle real estate deals funded with cryptocurrency through CryptEscrow, opening insured closings to buyers holding digital assets.
Crypto Real Estate Closings
The arrangement lets title agents convert a buyer's holdings into U.S. dollars for residential and commercial purchases, without changing the standard closing routine. First American Title is the title insurance and settlement arm of NYSE-listed First American Financial Corporation, which employs about 19,000 people.
The two firms have already closed one deal together, a $4.2 million residential purchase funded with digital assets. CryptEscrow said the conversion caused minimal disruption to the usual workflow. Eligible First American agents can claim discounted pricing through the AgentNet portal.
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Crypto Homebuyer Demand
John Ioannou, founder of CryptEscrow, said digital assets have produced a new class of buyers who need practical ways into the housing market. Stephen Vincini, agency division president at First American, said the deal opens a path for buyers moving from crypto into dollars.
Crypto ownership has widened enough to reach the housing market. CryptEscrow cited estimates that 67 million Americans, roughly one in four adults, own digital assets, and that 12.7% of Gen Z and millennial buyers sold crypto to help fund a down payment. Home purchases backed by crypto wealth have risen 35% from a year earlier, according to the company.
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