March 31st 2021
RealT, an American company based in Florida, is a pioneer of its industry for having created a model making real estate investment easily accessible for the public through tokenization: the issuance of financial assets on the blockchain in the form of tokens.
Since 2019, RealT allows its clients to invest starting from a few dozen dollars in ownership shares of high yield (10% to 13%) residential and commercial real estate in the US, with rental revenue being proportionally and directly paid to token holders in stablecoin.
With 75 properties sold and new ones being offered on a weekly basis, the huge success of that model also brought increasing costs and complexity to manage each new sale, the many investors of RealT and the distribution of rental revenue.
5942 Audubon Rd, Detroit, MI 48224, one of RealT's properties issued on Bridge Protocol
To relieve those burdens and sustain the growth of its business, RealT has sought our support. We have worked together in the last months to migrate RealT's activities on Bridge Protocol, our open-source asset tokenization solution which was first used back in 2018 to create the very first tokenized share on Ethereum. To answer RealT's needs, we have also developed additional features for our free access platform.
The main reasons that led RealT to adopt our solution were the ease to rapidly issue and distribute tokenized assets able to simultaneously comply with multiple jurisdictions (US and European in this case), the possibility to freely transfer tokens while complying with those regulations, as well as the consolidated management of investors KYC/AML across the multiple properties that they may own.
«This collaboration with Mt Pelerin allowed us to accelerate the achievement of our vision for the future of real estate.» says Jean-Marc Jacobson, co-founder and principal of RealT. «We share that ideal of democratizing investment.»
We are also developing a version of our mobile app Bridge Wallet specially customized for RealT. With it, their investors will be able to invest in new properties, exchange them and even vote the decisions related to their management from their phone.
«We are proud that our technology has been beneficial to RealT, a project that we follow and admire from day one.» says Arnaud Salomon, CEO and founder of Mt Pelerin. «RealT is a trailblazer in what will be the norm in a few years.»
All of RealT's properties are now live and operational on Mt Pelerin's platform. Some of them are even live on two blockchains simultaneously: Ethereum and xDai, where transaction costs are only a fraction of a cent.
Thanks to this partnership, Bridge Protocol is now the first asset tokenization platform on Ethereum with 78 live assets and new ones coming each week!