UK Startup Takes Billion-Dollar Tokenization Plan Stateside
Smartlands is betting on a billion-dollar tokenization vision with a new broker-dealer partnership to make it happen. The British digital tokenization firm is now working with IIP Securities, an international banking consultancy based in New York, as it prepares to bring its security token crowdfunding model stateside. The alliance provides Smartlands access to IIP Securities’ broker-dealer license – a critical element for complying with U.S. regulatory framework and one that has proven difficult, but not impossible, for digital asset firms to win on their own. “Our goal is to tokenize one billion dollars in assets by 2024.” Obraztsov said. “On this road the United States is the next step.” “Our goal is to tokenize one billion dollars in assets by 2024.” Obraztsov said. “On this road the United States is the next step.” For asset-holders interested in fractionalized ownership Smartlands’ UK efforts may provide a roadmap. In June the company launched one of Britain’s early real estate tokenization projects, crowdfunding about £1 million for a student housing complex. That listing is projected to yield investors about 15% annually. Obraztsov said modest returns on low-risk assets will continue to be Smartlands’ target as it moves beyond real estate. Green energy, commodities and late-stage startups are all being considered, Obraztsov said. Smartlands had already been working under UK regulators’ approval and its partnership with IIP Securities only clears one barrier to U.S. entry. Both firms will gin up on local regulatory framework in the coming months. They intend to launch in the U.S. in Spring 2020.
Reference: https://www.coindesk.com