SolidBlock to List $150 Million in Real Estate Security Tokens on INX | Business
TEL AVIV, Israel & GIBRALTAR – (BUSINESS WIRE) – December 30, 2020–
SolidBlock and INX Ltd. Announce Plans to List SolidBlock’s Real Estate-Based Security Tokens on INX Securities Trading Platform. Each token class listed is supported by either a single property or a collection of properties from SolidBlock’s exclusive portfolio of properties, including:
- London, England – Flexible investment in prime residential real estate in the London area (rolling fund; market value – up to USD 26 million)
- Phuket, Thailand – Expansion of Luxury Resort Destination in One of Asia’s Hottest Travel Destinations (Market Value – $ 12M)
- New Haven, CT – Historic Property Remodeling and Remodeling in this Ivy League City (Market Value – $ 5M)
Listing on INX offers SolidBlock a high level of accessibility for global investors and traders, year-round trading around the clock, real-time cap table management with transparency and transparency of regulations, as well as the option to automate the dividend distribution to SolidBlock investors.
According to INX Founder and President Shy Datika, working with SolidBlock to bring real estate asset backed digital securities to a wider audience will enable our two companies to realize our shared vision of making this asset class more accessible to investors.
SolidBlock pioneered tokenization, spearheading the world’s first successful commercial property security (STO) token offering, raising $ 18 million for the Aspen St. Regis Resort in 2018.
Real estate tokens issued by SolidBlock are now giving INX security token platform investors unprecedented access to exclusive real estate that was previously inaccessible to the public.
“We support INX’s commitment to operate a fully regulated digital securities trading platform with SEC, FINRA and other approvals,” said SolidBlock CMO Yael Tamar. “We love that they work with regulators and built their platform from the ground up with regulatory compliance in mind.”
The INX team and advisory board includes former NASDAQ vice chairman David Weild and other former top executives from numerous established financial institutions, as well as traditional capital market veterans and blockchain experts.
SolidBlock has also worked hand in hand with industry experts and financial institutions, alone and within the framework of the Foundation for International Blockchain and Real Estate Expertise (FIBREE), the international industrial consortium for consistency and regulation in blockchain-based real estate investment. The board of directors includes experts and senior advisors in the fields of international regulation, taxation, property valuation and more.
Based in NYC and Tel Aviv, SolidBlock is a state-of-the-art real estate-backed securities trading platform powered by the vision of making real estate work for everyone. Current projects include tokenization projects for residential, commercial and hotel properties in the US, Europe and Asia. Through its extensive network of partners, SolidBlock also works to promote interoperability and standardization of regulations and remove barriers to digital markets and investments.
INX Limited wants to provide a regulated trading platform for digital securities and cryptocurrencies that combines the expertise of traditional markets with a novel fintech approach. INX is led by an experienced team of business, financial and blockchain technology experts who have a vision to redefine the world of capital markets using blockchain technology.
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PUB: 12/30/2020 9:00 a.m. / DISC: 12/30/2020 9:01 a.m.
Copyright Business Wire 2020.