A merchant bank based in Tokyo, MBK, has announced that it has concluded a deal that will see it tokenizing some real estate in Estonia. The announcement states that the company will be working together with another firm BitOfProperty (BOP), which is already currently handling real estate in the country.
The acquisition of the properties in question will be directly handled by BOP which will then collaborate with MBK, to handle the tokenization. After the conversion and the tokens are available via blockchain, Angoo Fintech, an MBK subsidiary will then handle trading the token. The fintech company was purchased by MBK a few months ago in May, and was expected to fully launch by the end of August. However, the planned launch was postponed “in order to deal with the stricter regulations in the EU thoroughly.”
BOP’s experience already sees the company pulling in 5.3 to 6.59 percent yields on some properties the firm already has. The partnership with MBK will put both companies at the helm of affairs, for a growing sector.
Back in 2017, MBK created MBK Asia together with BtcBox, an exchange firm based in Japan. The company also concluded a deal last month, with BS Securities, a firm listed on the Hong Kong Stock Exchange. The deal is focused on security tokens as well as developing businesses in China and Japan.
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