Colliers International has inked a deal with Lithuania-based Smartlands Platform to create a real estate tokenization project based on properties managed by Colliers.
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Smartlands is a security token issuance platform using Stellar blockchain, an open source network used to facilitate cross-asset transfers of value.
The Smartlands platform creates security tokens backed by real estate, agricultural or other assets. Its partnership with Colliers will focus on real estate, Bitcoin News reports.
Tokens are a form of cycryptocurrency that represent an asset, as opposed to coins, which function as a medium of exchange.
The movement to tokenize physical assets is well under way, Nasdaq reports, with various models being piloted by startups, financial intermediaries and governments.
Under any system that the Colliers-Smartlands partnership devises, the tokens secured with physical real estate would be made available to investors through the platform, and traded on digital asset exchanges. Profits generated by the assets would be distributed to the token holders like dividends in stocks.
“The global financial and commercial landscape clearly shows trillions of dollars worth of real estate ripe for tokenization," Colliers International Lithuania CEO Ramune Askiniene said in a statement. "... security tokens will have a significant impact on redefining wealth creation, investing, fundraising and a host of other Internet-based commercial activities."
According to Smartlands, the platform adheres to various regulatory frameworks already in place, such as those of the Securities and Exchange Commission, FINRA (the Financial Industry Regulatory Authority), the ECB (European Central Bank) and the FCA (Financial Conduct Authority).
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