Read of The Day, 30th July 2020
Headlines
1) Dutch Regulator Approves Tokenized Real Estate Crowdfunding Platform
2) Cypherium to Assist China in Advancing Blockchain City Infrastructure
3) Dutch Regulator Approves Tokenized Real Estate Crowdfunding Platform
4) US Bank Regulator: Dollars on Blockchain ‘Better Than Central Bank Monopoly on the Payments System’
Reading Notes
Dutch Regulator Approves Tokenized Real Estate Crowdfunding Platform, powered by Blockchain
Max Crowdfund, a blockchain-powered real estate crowdfunding platform connecting property developers and investors, has received approval from the Financial Markets Authority in the Netherlands.
- Investors pay a one-time fee equal to 0.1% of their investment, in addition to monthly administration fees of 0.1%. The fees will be used to purchase and burn MPG’s security tokens.
- The platform seeks to democratize real estate investment, with investors able to gain exposure from as little as 100 euro ($117.50).
- Developers and investors are able to raise money from the public using the platform, and can pitch to an international audience.
- The platform is the first of its kind to be greenlit by the Dutch financial regulator, and will be available as an app on both iOS and Android.
- MPG has also commenced a security token offering that seeks to raise $4.4 million over five rounds of $880,000 that will issue 20% of the firm’s equity. The tokens will be issued by MPG directly.
Further reading: https://cointelegraph.com/news/dutch-regulator-approves-tokenized-real-estate-crowdfunding-platform