March 23, 2023

In Switzerland, completed a major transaction on the sale of real estate on the blockchain

The building on the main street of the Swiss city of Zurich was tokenized and sold using the blockchain for $ 134 million. Swiss investment firm BrickMark became the new owner of the building.

BrickMark Released Bondedtokens, which, in essence, are “shares” of ownership of a building. Tokens were sold to private investors who wanted to receive part of the profit for the rental of the building, as well as profit from the growth in the value of real estate.

The previous owner of the building, RFR Holding, retained part of the property. She will receive 20% of the issued tokens and will profit from the rental of premises.

“Previously, there was no tokenization of real estate suchvolume. All this was just a concept, but now we are applying this technology in real estate activities, ”said BrickMark CEO Stefan Rind.

According to BrickMark, in the future, the company plans to build a large business on tokenized real estate.

Last October, the Japanese trading bank MBK, based in Tokyo and listed on the Tokyo Stock Exchange, signed an agreement on the tokenization of real estate in Estonia.