Blockchain platform Liquefy has signed a deal to be the technology provider for a consortium of Arab families. According to the report, the tech firm will digitize real estate assets worth around $1 billion.
The first asset Liquefy will digitize via this partnership is an award-winning London hotel located in a redeveloped area that offers stunning views of Hyde Park and Mayfair. Valued $600 million, the hotel would be added to Liquefy blockchain network for security.
Liquefy will use the secure and comprehensive qualities of blockchain technology to enable the digital recording and transfer of economic interest of the Hotel property. This would ensure future change of control and sales of the hotel would be faster and more secure.
Liquefy Have Embarked On Multiple Partnerships In 2019
This is not the first deal Liquefy signed with the Arabs in 2019. Earlier this year, the company announced a partnership with the Private Office of Sheikh Saeed bin Ahmed Al Maktoum and SEED Group to propel Dubai as a major player in the FinTech industry.
The partnership would enable Liquefy to operate in the Arab City under the authority of the government. In addition, Liquefy will get the chance of discuss with the UAE government regarding future collaboration on digital securities projects.
Liquefy also has interests in other regions like Asia where it recently signed an MOU with Hong Kong real estate firm Stan Group to explore new business opportunities within the real estate digital securities market.
The partnership would also explore the development of a real estate exchange that allows Hong Kong businesses to gain access to a wide range of digitalized properties.
Liquefy is a technological platform that specializes in blockchain solutions to enable the issuance of digital securities backed by assets such as real estate property.
Apart from real estate assets, Liquefy allows institutions and investors to digitize other assets like collectibles and sports franchises. The blockchain firm has solutions for digital security issuance with comprehensive compliance protocols for over 40 jurisdictions.
This latest partnership with the Arab consortium is part of Liquefy’s efforts to continue developments in digital securities using blockchain solutions.