Realnoi, a company focused on transforming real estate income into an commercializable asset, has implemented its rental income platform with blockchain food built at the top of the real world asset tokenization service (RWA) Chintai.
The platform provides investors access to cash flows worth $ 570 million of almost 1,900 apartments with projected annual yields greater than 5%. Unlike traditional real estate tokenization, which implies the fractional property of the property, Real focuses only on rental income, eliminating the need for transfers of titles, notaries or direct property administration. Rental cash flows are recorded in the transparency chain in real time and can be negotiated in secondary markets.
The launch of Realnoi represents a significant leap of the initially projected $ 124 million when the company announced its association with Chintai in December.
“We have been flooded with consultations [since the announcement]”, Connor Gallic, main director of Blockchain de Realnoi, said in an interview with Coindesk. Citing a report from the Cred IQ Real Estate Intelligence Service, said that 40% of the loans of multifamily owners have problems refinancing because a major Interest the rates decrease property assessments and need additional capital.
“There is a great dislocation in the market,” Gallic said. “Our solution solves that. And it gives the cryptographic community the opportunity to show financial markets the power of cryptographic markets to transform the financial industry in a significant way.
Chintai describes his services as “Shopify” for asset token with his Layer-1 block chain and the native token that feeds the network. Chintwork Network Services PTE LTD, the network ecosystem development firm, is regulated and authorized by the Monetary Authority of Singapore (MAS) to act as a provider of capital market services and a recognized market operator for primary broadcast and the secondary trade of the market in digital values, according to the White Book of the project.
In this case, Reali obtains the properties of the platform, while the Chint smart contracts and compliance with regulations.
“Reali Going Live is very exciting, but the broader story is also that this model can be replicated in several industries,” said a Chintoi spokesman. “You could have innumerable versions of the launch of reali with Chintai, feeding everything.”