La Rosa Holdings Corp (NASDAQ: LRHC) said on Monday that it would offer Bitcoin and other cryptocurrencies as a payment option for its network of agents.

This way, agents will be provided with the flexibility to receive certain payments in digital assets, while the initiative marks a progressive step toward integrating blockchain technology into real estate transactions.

“We are proud to introduce this groundbreaking payment option, enabling agents to receive their commissions in cryptocurrency. We believe that once we effectuate this plan, this move will not only position us at the forefront of technological innovation in real estate but also will deliver tangible benefits for our agents. In our view, cryptocurrency payments offer faster, more secure transactions with lower fees while providing the potential for income growth through the value appreciation of digital assets,” Joe La Rosa, CEO of La Rosa Holdings Corp, said in a press release.

“Additionally, this initiative may potentially create a new revenue stream for La Rosa, with the Company implementing a 2% fee for agents who choose to receive payments in cryptocurrency. This integration aligns seamlessly with our vision to modernize industry practices while providing enhanced benefits and opportunities for our broker network.”

Stock Performance

The shares of La Rosa Holdings Corp (LRHC) closed 6.47% ($0.0522) lower at $0.7550 on Nasdaq on Monday, as they reversed a gain from the previous market session.

The company’s total market cap now stands at $15.252 million.

The shares have retreated 49.67% so far this year.

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