Grupo Lar, Renta 4 Bank and ioBuilders announced last week that they launched their project ‘Openbrick’ in the fourth Sandbox of the National Securities Market Commission (CNMV), after a prior evaluation for admission to the controlled testing area.
The project, which As they explained, it will be open to the participation of other real estate and financial companies due to its vocation of being an initiative of the Spanish real estate and financial sector.l, is focused on the tokenization of real estate assets, a sector that in 2022 left an investment record of more than 17,000 million euros on Spanish soilaccording to CBRE, the world’s largest real estate investment manager.
In addition, OpenBrick’s objective will be to develop a market for tokenized financial instruments linked to real estate projects.
Miguel Jaureguizar, director of Renta 4 Digital Assetsspoke about this new achievement and praised the scope of tokenization. “The tokenization of financial assets allows the creation of new markets for different assets and investment vehicles, increasing the efficiency of the European financial system and continuing the trend of increasing the financing of companies in the capital markets.”
On the other hand, Santiago Millán, Head of Innovation at Grupo Larmentioned the opportunity to contribute to the needs of an “increasingly relevant and growing” market such as real estate, through blockchain technology.
Finally, as explained in the statement, the platform hopes to thus constitute a non-bank financing channel, where real estate developers will be able to raise funds to promote their projects in a way “more agile” and “at a lower cost” than through traditional financing channels.
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