U.S. Markets closed
  • S&P 500

    4,577.32
    -85.53 (-1.83%)
     
  • Dow 30

    35,369.13
    -542.68 (-1.51%)
     
  • Nasdaq

    14,506.90
    -386.86 (-2.60%)
     
  • Russell 2000

    2,102.13
    -60.32 (-2.79%)
     
  • Crude Oil

    85.85
    +2.03 (+2.42%)
     
  • Gold

    1,813.90
    -2.60 (-0.14%)
     
  • Silver

    23.55
    +0.63 (+2.74%)
     
  • EUR/USD

    1.1326
    -0.0084 (-0.7362%)
     
  • 10-Yr Bond

    1.8650
    +0.0930 (+5.25%)
     
  • Vix

    22.83
    +3.64 (+18.97%)
     
  • GBP/USD

    1.3595
    -0.0052 (-0.3820%)
     
  • USD/JPY

    114.6130
    +0.0330 (+0.0288%)
     
  • BTC-USD

    41,718.79
    -455.48 (-1.08%)
     
  • CMC Crypto 200

    993.42
    -15.97 (-1.58%)
     
  • FTSE 100

    7,563.55
    -47.68 (-0.63%)
     
  • Nikkei 225

    28,257.25
    -76.27 (-0.27%)
     

Germany’s financial regulator approves $280M blockchain real estate bond

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

Germany’s financial regulator, BaFin, has given the green light to a blockchain-based real estate bond worth €250 million (~$280 million).

The bond, offered by Fundament Group, is based on the ethereum blockchain and is backed by a portfolio of real estate properties across Germany, the firm announced Tuesday.

Claiming to offer the “first-ever” regulated real-estate backed security token, Fundament said the "Real Estate Token" securitizes a right or share certificate using a digital token.

The token is tradeable globally and allows investors to liquidate their investment at “any time they want on designated secondary markets.” Investors can make deposits and withdrawals in euros or ether (ETH), per the announcement.

Fundament co-founder, Florian Glatz, said the firm is already preparing to tokenize other “highly attractive assets.”