News Switzerland Welcomes Real Estate Crypto Token SwissRealCoin

Switzerland Welcomes Real Estate Crypto Token SwissRealCoin


- Advertisment -

Switzerland Welcomes Real Estate Crypto Token SwissRealCoin

A young Swiss startup called Crypto Real Estate is looking to use blockchain technology to improve transparency and efficiency in the management and portfolio management of properties in Switzerland. The company is building a platform that is set to bring real estate assets onto the blockchain and provide investors with easy access to the Swiss real estate market.

Zug-based Crypto Real Estate is launching a crypto token called SwissRealCoin (SRC) which will be backed by Swiss commercial real estate as well as other collateral including the firm’s technology platform.

“Swiss real estate has proven to be one of the globally most crisis resistant values,” reads the SwissRealCoin whitepaper. “The SRC is directly linked to Swiss real estate assets, professionally set up by real estate and proptech (property technology) experts, and is compliant with the relevant regulatory requirements.”

An initial coin offering (ICO) planned to begin in the month May will help it fund the development of its blockchain platform and will also be used to invest in properties. Brigitte Luginbuehl, co-founder and CEO of Crypto Real Estate, told her firm plans to take in between CHF 80 million and 100 million with the ICO.

Luginbuehl, who previously spent seven years with real estate and investment firm Jones Lang LaSalle, noted that the goal was realistic as the firm already has “double-digit million CHF indicative commitments from potential investors.”

A first seed round was significantly oversubscribed; the lead investor was Bauwens, a German real estate development company.

“The community needs to have a blockchain-based token that can be used as a real store of value, and at the same time can be easily traded on all the exchanges, including crypto-only brokerages,” said Luginbuehl. “Simultaneously, classic direct investments in real estate are burdensome, non-transparent, and prone to high transaction costs of up to 4%. The SwissRealCoin portfolio will allow for a disruptive showcase, paving the way to manage all real assets on the blockchain in the near future.”

Crypto Real Estate joins the ever-growing list of startups looking to use blockchain technology to transform the real estate industry and real estate investing.

Proptech startup Propy offers a global property store and a decentralized title registry powered by blockchain technology. The startup signed a partnership with the Ukrainian government last year to pilot its platform.

Singapore-based Real Estate Asset Ledger (REAL) has built a real estate investment platform based on the Ethereum blockchain. The platform aims to provide investors with access to global real estate investment opportunity.

Source link


Please enter your comment!
Please enter your name here

Latest news

GoCrypto presents truly contactless payments with a simple solution for merchants and buyers

7 April 2020 — The recent events have rapidly changed the way we live, including our shopping...

Bitcoin SV has found a new niche in the gaming industry

Gaming companies and online casinos are increasingly paying attention to cryptocurrencies as a possible payment tool. Several...

Why could GLBrain become a great solution to receive support during the crisis?

To support smaller and medium-sized businesses during the ongoing crisis, GLBrain offers services cost-free for all Austrians....

Make Fast and Secure Trades Using is a Cryptocurrency trading platform that allows users to buy and sell their Cryptocurrency in a...
- Advertisement -Switzerland Welcomes Real Estate Crypto Token SwissRealCoin

Network Security Using Cryptography: Everything you need to know

This article will describe what is Network Security Using Cryptography and everything you need to know before...

Mercuriex Cryptocurrency Exchange Launches New Utility Token, SURF

MercuriEx Cryptocurrency Exchange, originally developed in 2017, came under new ownership in December 2019. Since taking over the exchange,...

Must read

- Advertisement -

You might also likeRELATED
Recommended to you