New Cryptocurrency Backed by REITs – NMP Skip to main content

New Cryptocurrency Backed by REITs

Phil Hall
Jun 07, 2017
Move over, Bitcoin—a new cryptocurrency is coming online that is backed by the properties held in real estate investment trusts (REITs)

Move over, Bitcoin—a new cryptocurrency is coming online that is backed by the properties held in real estate investment trusts (REITs).
 
According to a Business Insider report, the Swiss-based fintech company Brickcoin plans to roll out REIT-backed currency called brickcoins, which will be managed and tracked with blockchain technology. The company is registered in the U.S., U.K. and European Union, although it not yet clear which REITs will be used at the core of this new endeavor or when it plans to become fully operational.
 
“BrickCoin challenges tradition by making real estate investment an accessible, practical and smart option for everyone,” said the company on its Web site. “The idea is clever and simple, and has already caught on with some of the leading minds in the finance industry. It is a smart investment strategy, which is why many people are already getting involved. And you can too.
We are the future of real estate investment.”

 
Published
Jun 07, 2017
More from
Tech
OptiFunder Secures $25 Million In Capital

OptiFunder, a warehouse management system provider for mortgage originators, raised $25 million in additional capital lead by Arthur Ventures, a growth capital firm focused on high-growth, founder-led and capital efficient B2B software companies.

Tech
Nov 23, 2021
Guaranteed Rate Adds New Chief Product And Technology Officer

Guaranteed Rate named Dr. Ramesh Sarukkai as the company’s new chief product and technology officer.

Industry News
Nov 22, 2021
Fintech Mortgage Proven To Reduce Racial Bias In Lending

Technology-based Fintech mortgage may be the answer to reducing, and ultimately eliminating, racial bias and discrimination in lending.

Analysis and Data
Nov 19, 2021
nCino To Acquire SimpleNexus

Cloud banking and digital transformation solutions company, nCino Inc., signed a definitive agreement to acquire SimpleNexus in a stock and cash transaction valued at an estimated $1.2 billion.

Tech
Nov 19, 2021
Guaranty Home Mortgage Partners With Paradatec For Doc Automation

Guaranty Home Mortgage Corporation selected Paradatec's AI-Cloud for document processing and indexing.

Tech
Nov 16, 2021
loanDepot Wholesale Enhances mello Broker Portal

loanDepot Wholesale launched the newest iteration of its mello broker portal, which then company says features added efficiencies in the closing process.

Wholesale
Nov 16, 2021