Copy link
Increase text size
Decrease text size
Link copied

Liechtenstein's Financial Market Authority approves ethereum-based real estate tokenized fund

Image by Matthew Peoples from Flickr

Fri, 24 Jan 2020, 07:35 am UTC

Liechtenstein's Financial Market Authority (FMA) has approved AARGOS Global Real Estate Fund as an alternative investment fund (AIF), the company announced on its website.

The fund was created in collaboration with Liechtenstein-based financial services Ahead Wealth Solutions, blockchain technology provider Token Factory and independent family-run Bank Frick. It is the first regulated real-estate tokenized AIF fund in the country, with each token equivalent to one share in the fund.

“Our tokenization solution is based on standard protocols like ERC20 and an open Blockchain (Ethereum). This allows our customers to maximize the potential of Blockchain technology without having to commit to a central technology partner or proprietary (closed) solution,” said Bastiaan Don, Managing Director of Token Factory, in a press release shared on Medium.

The security tokens have been designed in such a way that only compliant transactions can be processed. In addition, only those investors who have identified themselves via AML/KYC will be able to invest, hold or trade in the corresponding security token.

According to Raphael Haldner, Head Fund and Capital Markets of Bank Frick, they worked with Token Factory’s team because they were impressed with the company’s track record and far-sighted tokenization solution.

“As the preferred point of contact for Blockchain Banking, we were again able to demonstrate the possibilities of Blockchain technology with the tokenization of a regulated investment fund. The issuance of digital, Blockchain-based fund shares leads to greater efficiency and a higher degree of automation in the transmission process,” Haldner said.

In October, crypto exchange Bittrex announced the shutdown of Bittrex International in Malta and the launch of a new exchange Bittrex Global headquartered in Liechtenstein. CEO Kiran Raj said at the time that Liechtenstein's ratification of Blockchain Act provides a comprehensive regulatory framework for the industry, making it much easier to "innovate quickly and efficiently, in a safe way for our customers."

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $10,882.60 (+1.51%)
  • Ethereum (ETH) $367.51 (+3.50%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $232.08 (+2.10%)
  • Binance Coin (BNB) $28.99 (+2.68%)
  • Bitcoin (BTC) $10,882.60 (+1.51%)
Feb 21, 2020 (Friday)
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
Brazil to launch new payment system in response to cryptocurrencies
Digital currency exchange Coinbase Pro lists Kyber Network token
Norwegian Air to soon start accepting crypto payments
Swedish central bank begins CBDC pilot with Accenture
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
Telecom companies complete cross-carrier mobile payments using blockchain
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
South Korean ICO project discontinued, to return $7.5M to token holders
Samsung maintains crypto support in soon-to-launch Galaxy S20
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
Coinbase becomes first crypto company to receive Visa principal membership
Dubai Economy and six banks launch KYC Blockchain Consortium
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.