Dutch Regulator Endorses Blockchain Powered Real Estate Crowdfunding Platform July 29, 2020 July 29, 2020 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsJuly 29, 2020 by Kelly Cromley

Dutch Regulator Endorses Blockchain Powered Real Estate Crowdfunding Platform

Blockchain technology based real estate crowd funding platform Max Crowdfund has received endorsement from the Financial Markets Authority (FMA) of Netherlands.

The platform acts as a bridge between property developers and investors.

Following the approval from the FMA, Crowdfund’s parent company, Max Property Group (MPG), will begin the platform’s launch in collaboration with DLT provider Jelurida.

Investors have to shell out 0.1% of their investment amount as one-time charge, apart from monthly handling charges of 0.1%. The paid fees will be utilized to buy and burn security tokens of MPG.

The platform aims to democratize real estate investment, with investors getting a chance to gain exposure by investing as small as €100 (~$117.50).

The platform can be used to address the funding needs of developers and investors and can reach global audience.

It is the first ever real estate focused crowd funding platform to get endorsement from the Dutch financial regulator, and both iOS and Android versions are offered.

The platform boasts of having more than 70,000 members even before official roll out.

MPG CTO Erwin van Kekem revealed that the plan for a blockchain technology based international real estate crowd funding platform came up three year back, an year after the establishment of MPG.

The platform will run on Ardor blockchain of Jelurida. According to Kekem, the appealing point of MPG is that Ardor’s “multichain architecture” facilitates firms to “spawn their independent child chain” from the platform.

Kekem underlined that the platform has already got applications for loan, forecasting a public rollout in the months ahead.

MPG is also conducting a security token offering to raise $4.40 million in five stages of $880,000 each, totally representing 20% of the startup’s equity. MPG has undertaken the responsibility of issuing the tokens.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.