- The Fundament tokens will be available for investors from any place without minimum investment restrictions.
- Fundament went through the tedious approval process to make sure there aren’t any restrictions.
Berlin-based Fundament has been permitted to issue the first tokenized real-estate backed bond. The company has obtained approval from BaFIN, Germany’s financial regulator, for the 250 million euro offering. The token will hence be available to any retail investor in any place without a minimum investment restriction.
A BaFIN representative told CoinDesk:
“We can confirm that we granted approval for a Fundament Group prospectus. It has indeed been the first time we have approved a prospectus regarding blockchain-based real estate bonds, but not the first time in respect to blockchain technology as such.”
Fundament will start marketing its token from next month. The token will be the standard ERC-20 Ethereum-based token. The co-founder of Fundament Group, Florian Glatz, said about the approval process:
“The reason we went through this long tedious process with regulators was to get rid of any restrictions. Normally these projects are limited either by the minimum investment amount, which would be north of €100,000 or limited heavily in the amount of investors you could have. So it’s the first really like mass-market tokenized real estate for the world.”
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