HONG KONG, June 26, 2019 /PRNewswire/ -- Cryptocurrency exchange Coinsbit will hold the first IEO (Initail Exchange Offering) in the EU for a blockchain platform. Fortem seeks to tokenize the real estate market in Poland. The project's team has been involved in the real estate market for several years. Currently, they hold an investment portfolio worth 155 million zlotys (US$41 million).
Fortem's new product, Fortem Capital token, focuses on the tokenization of real-world assets -- a venture it believes will transform the way the world invests, trades, and transfers value. The date of IEO is July, 4th.
"We have been diligently working on launching an IEO over the past six months, so now we're happy to announce the first IEO at our platform. Thanks to Coinsbit they will be able to make their business international," the spokesperson for Coinsbit commented.
Fortem is creating the first-ever platform on the Polish market based on blockchain technology. The platform allows investors to be part of Fortem's projects in a simple and secure way.
Fortem provides investors with an opportunity to invest their assets in the real property sector, through Fortem projects by using the Fortem Capital token.
Fortem Capital token aims to solve the problems related to international real estate transactions by means of creating an asset transfer platform for the Polish real estate industry.
Fortem Capital token aims to help real estate investors by eliminating intermediaries, improving transparency and liquidity, and lowering barriers to entry.
Interestingly, several blockchain real estate startups have emerged over the last few years. Each intends to disrupt the way property sales work. Secrecy is not profitable anymore, especially when middlemen become redundant.
A blockchain network, after all, can reduce risk aversion through a trustless environment. In turn, this facilitates property transactions without the need for trusted third parties. Greater market demand for transparency in the global economy has spurred innovation in real estate tokenization.
Tokenizing assets makes many processes associated with property transactions happen faster and at a considerably lower cost.