RealBlocks raises $3.1 million for its security token platform
As real estate would be huge in development of security token, more and more companies are entering the space in early 2019. RealBlocks, a two-sided platform that leverages the Ethereum blockchain for real estate capital markets, which has successfully raised $3.1 million in its latest seed round.
The funding was led by Science Inc., and also the contribution from Morgan Creek Digital, Cross Culture Ventures, Ulu Ventures and Zelkova Ventures, which helps the company to develop the platform financially, in order to allow sponsors to raise capital globally through issuing tokenized securities.
Perrin Quarshie, Founder and CEO of RealBlocks stated in press release, investors will be able to credit the platform wallet with digital currency or fiat, then use it to buy tokens for investment, representing ownership of real estate through private placement, without the complications and excessive cost of public securities registration.
Quarshie also said, “With the support of our strategic investors, we’re accelerating development of our product and adoption of blockchain technology for real estate, an industry that previously hasn’t seen much innovation. This is a great opportunity to improve the investment experience for both sponsors and investors while also minimizing friction throughout the entirety of the process.”