Crowdlitoken plans to issue digital real estate bond
The Liechtenstein Financial Market Authority has approved a tokenized real estate investment product for the first time in Europe. This allows the Liechtenstein start-up Crowdlitoken to issue a digital real estate bond.
As part of the distribution authorization for retail investors, Crowdlitoken can now start the public sale of the security tokens in the core countries of the European Economic Area (EEA). This will also soon be possible in Switzerland - in a first step for qualified investors, the company says. The corresponding application is currently being reviewed by the Swiss Financial Market Supervisory Authority.
Crowdlitoken wants to raise CHF 100 million with the so-called Security Token Offering to build its own real estate portfolio with properties across Europe. The Security Token is specifically a digital representation of a subordinated bond that digitizes both the bond and the underlying properties via blockchain, the company said. The token maps the income streams and value changes of the properties, it said. Investors are promised a return of between 5% and 7%.
The company said it has already attracted qualified investors for the STO. With the approval of the Liechtenstein regulator, the private sale should now be completed and enter the second public phase, the so-called pre-public sale for retail customers, in May, Crowdlitoken added. Sums starting at CHF 100 or the equivalent in euros can be invested. (ah)
