MountX will be conducting multiple issuances: initial deals will only be promoted to Latin American investors, and eventually expand to include U.S. VREâs new partnership with MountX will facilitate direct investments in Class-A residential properties located in Canada. See also: Tokensoft Teams With Signature Bank to Launch Real Estate Security Token Platform In February, commercial real estate platform Red Swan partnered with token platform Polymath to tokenize $2.2 billion in real estate assets. In April, Vertalo signed a deal with trading platform tZERO to tokenize a real estate portfolio worth $300 million.  Now, 2020 has seen a rekindled interest in the sector. ÂAnother missing piece was the digital transfer agent â like Vertalo â that could manage the shareholder data for proper record keeping purposes,â Hendricks said. Related: Canadian Exchange Shakepay Gets Cold Wallet Insurance to Protect Customer Funds Vertalo co-founder and CEO Dave Hendricks told CoinDesk the 2018 âhype cycleâ for real estate tokenization was about two years ahead of the implementation of the technologies needed to make it a reality.ÂĪccording to Hendricks, although tokenization of real estate had been possible for three years, the alternative trading systems (ATS) and exchanges that could trade these digital debt instruments had not received regulatory approval. Multiple deals have fallen apart as a result, including Harborâs partnership with the real estate division of Chicago-based DRW Holdings.  One problem was that issuers had to get tokens out to increase liquidity, while institutions wanted to see liquidity before they changed their operations. See also: tZERO Plans to Support Trading of Aspencoin Ski Resort Digital Security Related: Government of Bermuda Pilots Stimulus Token in Response to COVID-19 Crisis However, investors didnât immediately take to the new promise of trading tokenized pieces of properties on a public ledger. Real estate tokenization once looked like an extremely popular blockchain use case that promised to disrupt the global real estate market, with crypto firms like AlphaPoint and Harbor launching initiatives to put real estate assets on a blockchain. Vertalo is one of the few transfer agents â Securities and Exchange Commission-registered record keepers â in the crypto industry. According to a press statement, this is the third of four planned deals by Vertaloâs real estate division (VRE), launched this past June, that focuses on the tokenization of real estate assets.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |