AirSwap To Partner Up To Tokenize NY’s Real Estate Market

Sep 12, 2018 at 11:55 Update Date :Sep 12, 2018 at 11:55 UTC

Airswap, a decentralized cryptocurrency trading platform has announced a new partnership to aid in tokenization of most expensive real estate markets in Western Hemisphere.

That organization, inked with FINRA-enlisted intermediary dealer Propellr, will see the two firms use AirSwap’s peer-to-peer trading protocol to create a stage that allows dealers and their customers to tokenize securities and trade these crypto tokens in a way that agrees to securities regulations.

AirSwap and Propellr will initially concentrate their endeavours on the New York real estate market, however, points of interest on how they aim to accomplish this remain slim.

AirSwap highlighted how technology can benefit secondary market transactions, in a statement,

“Ultimately, we hope to reduce the time to complete secondary market transactions of private securities from months to days, with the actual execution, clearing, and settlement taking place in a matter of minutes. With a non-custodial, no order book model, our technology is far better positioned for the private securities market than alternatives that take custody, use order book matching engines, and wrongly assume that private securities will trade with the same frequency as publicly traded securities or cryptocurrencies.”

Recently, crowdfunding giant Indiegogo partnered with a merchant to have its first security token offering (STO), which focuses on selling tokens that represent equity in a luxury resort in Aspen, CO.

Independently, cryptocurrency startup Swarm has started issuing tokens that represent equity in secretly held tech organizations, for example, stock trading platform Robinhood, helping make another class of free market securities more liquid.

As reported, AirSwap raised $20 million during an initial coin offering (ICO) presale held last August and September and at last got near $25 million after the finish of the company’s open deal, as indicated by information from CoinSchedule.

At the beginning of this month, AirSwap reported the making of an over-the-counter (OTC) cryptocurrency trading product, which is in private beta.

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