Dutch Regulator Approves Tokenized Real Estate Crowdfunding Platform
The Netherlandsâ€™ financial regulator has approved the blockchain-powered real estate crowdfunding platform Max Crowfund.
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.
With approval from the AFM, Max Property Group â€” the platformâ€™s parent company â€” will commence the platformâ€™s roll-out in partnership with distributed ledger technology provider Jelurida.
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 MPGâ€™s security tokens.
Max Crowdfund attracts 70,000 users pre-launch
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 claims to have already attracted over 70,000 registered users prior to launch.
Ardor powers real estate crowdfunding platform
Speaking to Cointelegraph, MPG CTO Erwin van Kekem stated that the idea for a blockchain-powered global real estate crowdfunding platform was conceived in 2017 â€” just 12 months after MPG was incorporated.
The platform will be powered by Jeluridaâ€™s Ardor blockchain, with Kekem emphasizing its â€œmultichain architectureâ€� in allowing companies to â€œspawn their independent child chainâ€� from the platform as appealing to MPGâ€™s needs.
Kekem noted that the platform has already received loan applications, predicting a public launch â€œover the next months.â€�
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 firmâ€™s equity. The tokens will be issued by MPG directly.
Powered by WPeMatico