SolidBlock to list USD150m in real estate security tokens on INX
SolidBlock is to list its real estate-based security tokens on the INX securities trading platform. Each listed token class will be backed by either a single property or a collection of properties from SolidBlock’s exclusive portfolio of real estate assets.
This includes: flexible investment in prime residential London-area real estate (rolling fund; market value – up to USD26 million); expanding a luxury resort destination in Phuket, Thailand (market value – USD12 million); and the remodelling and conversion of a historic property in New Haven Connecticut (market value – USD5 million).
The listing on INX will provide SolidBlock with high accessibility to global investors and traders, all-year 24/7 trading, real-time cap table management with visibility, and regulatory transparency, along with the ability to automate dividend distribution to SolidBlock investors.
According to INX Founder and President Shy Datika: “Collaborating with SolidBlock to introduce real estate asset-backed digital securities to a wider audience will empower both of our companies to realise our shared vision of making this asset class more accessible to investors.”
SolidBlock pioneered the field of tokenisation, spearheading the world’s first successful commercial real estate security token offering (STO), raising USD18M for the Aspen St Regis Resort in 2018.
Now, SolidBlock-issued real estate tokens open up unprecedented access for INX security token platform investors to exclusive real estate previously off-limits to the general public.
“We support INX’s commitment to operate a fully-regulated digital securities trading platform with SEC, FINRA, and other approvals,” says SolidBlock CMO Yael Tamar. “We like that they work with regulators and have 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 of numerous mainstream financial institutions, alongside traditional capital market veterans and blockchain experts.
SolidBlock, too, has been working hand-in-hand with industry experts and financial institutions, alone and as part of the Foundation for International Blockchain and Real Estate Expertise (FIBREE), the international industry consortium for consistency and regulation in blockchain-based real estate investment. Its board includes experts and senior advisors in the field of international regulation, taxation, real estate valuation, and more.