Basin Street Properties offers cryptocurrency payments to brokers

Basin Street Properties announced this month it will offer brokers the option to receive bonuses and commissions in cryptocurrency.

Basin Street Properties, which manages seven commercial properties in Northern Nevada — including the 200 South Virginia, 50 West Liberty and 300 East 2nd Street high-rise office properties in downtown Reno — will be among the first real estate firms to offer cryptocurrency bonuses as alternative payment, according to a Nov. 8 press release.

“We constantly look for new ways to gain efficiency and improve how we function as a business partner,” Scott Stranzl, Chief Portfolio Officer for Basin Street, said in a statement. “Our brokers are essential in helping our tenants find the right office solution for their business and providing an option to pay brokers in crypto is another way to be accommodating, innovative and a good business partner.”

Brokers will have the option to receive payment in the cryptocurrency of their choice through Binance, the largest cryptocurrency exchange in the world. Cryptocurrency will be an additional payment option, not a replacement, according to Basin Street.

“Being an innovative company is essential in today’s business environment,” said Stranzl.  “Across all facets of our business we seek opportunities to improve and advance. Not all new technologies will stick, but we are open to testing, so we learn and ultimately find a better way.”