German Regulator allows Tokenized Bonds 🔥
A BaFin Representative told to the press:
“We can confirm that we have approved the Fundament Group prospect. Indeed, we approved the prospectus for bonds based on the blockchain for the first time, but not for the first time with regard to the blockchain technology itself.”
Bonds secured by a portfolio of real estate in major German cities, including Berlin, Hamburg, Rostock and Jena
The volume of issuance of bonds is 250 million euros.
A technologically new financial instrument based on the Ethereum blockchain using the ERC-20 standard. An investor investing in bonds will receive a certificate of ownership or stock in the form of a digital token.
Tokens can be purchased for euros or US dollars, as well as in exchange for Bitcoins or Etherium. Owners of the tokens will receive from 4% to 8% annually. At any time tokens can be sold by the holder in the secondary markets, and without the participation of intermediaries.
Due to such properties, the Fundament Group security token introduces liquidity into the traditionally poorly liquid real estate investment market. The token will be available for sale to any retail investor with no restrictions on accommodation and the minimum investment package.
Florian Glatz, co-founder of the Fundament Group, said: “Typically, these projects are limited to either the minimum investment amount, around 100,000 euros, or are strongly limited by the number of investors you could have. So this is the first truly world-like real estate in the world.”
With the support of a team of experienced lawyers, political advisers and real estate developers, the Fundament Group creates a link between the traditional capital market and the digital blockchain-based financing.
“Since we are the first company to receive approval from the German Financial Market Authority for blockchain-based real estate bonds, we are pleased to start the sale of a real estate security token by preparing tokenization of other very attractive assets.”– added Florian Glatz.В записи нет меток.