French Fintech Firm Announces $78.5M Paris Real Estate Tokenization Deal
French financial technology firm ID Distribution announced a joint venture with local real estate firm Groupe JRI, amining to tokenize Paris properties.
According to a June 17 announcement, ID Distribution and Groupe JRI plan to jointly issue security tokens and a Frankfurt listed bond to acquire buildings in downtown Paris.
The use of security tokens is meant to strengthen the capital more so than could be achieved with traditional debt instruments.
Tokens will be issued on a private blockchain through tokenization platform wezee.io.
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