This week German real estate tokenization platform Tectrex announced the latest issuance of a real estate digital security by Gloram Real Estate on the Polygon public blockchain. The Central View bond was issued in accordance with Germany’s digital securities regulation eWpG with help from high profile partners.
Digital securities involve several benefits, including lowering costs and risks. Depending on the jurisdiction, it can remove the need for central clearing and it may be possible for the issuer to sell directly to investors, side stepping the need for intermediaries. Reduced costs can in turn enable the minimum investment to be lowered, which combined with public blockchains, can broaden the pool of potential investors.
One of the partners for this transaction was digital assets startup 360X which plans secondary sales in the future. Deutsche Börse and Commerzbank are backers of 360X, which will provide a secondary market for tokenized real estate, art and music. Another partner was adviser Hauck Aufhäuser Lampe Privatbank, which has advised other high profile tokenizations, including the €60 million Siemens blockchain bond earlier this year.
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