e-Money’s Stablecoin EEUR used by Real estate tokenization Platform, ReTok to Distribute Monthly Rental Income
We are pleased to inform you that leading real estate tokenization platform, ReTok will now use e-Money’s stablecoin EEUR to distribute rental income to their investors. ReTok investors are rewarded every month with a share of the rent income from portfolios’ properties behind the tokens. ReTok will make its first EEUR rental income distribution to its investors on the 31st May 2022.
ReTok aims to lower the entry barriers for small investors, enabling them to build a diversified portfolio with fractional ownership of real estate properties. Enabling small investors access to high-value and high-return investments.
This collaboration also enables ReTok to leverage e-Money’s network and accelerate onboarding European users, who are looking for native currency options for the markets they operate in. e-Money’s quarterly audits by Ernst & Young will guarantee the integrity and transparency of e-Money stablecoins, ensuring Proof of Funds.
“ReTok offers a novel way to unlock illiquid real estate markets. We’re excited to work with the ReTok team to facilitate EEUR payments to their investors. This partnership involves interacting with real-world economies, thereby expanding our user base and strengthening our position as a leading issuer of trustworthy stablecoins.” Martin Dyring-Andersen, Founder & CEO of e-Money
“EEUR is the solution we’ve been dreaming of. A serious, transparent, liquid euro stable coin is exactly what we were looking for to distribute rental income to our token holders. e-Money’s focus on fairness and real-word usefulness resonates with our own values. Our collaboration will help us accomplish our mission of fixing the generational homeownership crisis.” Bruno Enten, CFO of ReTok.
ReTok offers tokenized shares on Avalanche of actively, professionally managed portfolios of residential real estate. Active management helped by the innovative tenant-owner concept aims to beat the residential real estate price index benchmark, while helping tenants build equity.
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About e-Money
e-Money is a blockchain-based payment platform built by Danish fintech e-Money A/S, committed to bringing financial inclusion and helping people around the world to have easy access to digital currencies. Built on Cosmos technology, e-Money supports a range of fiat-stablecoins which are fully backed by bank deposits and government bonds that are also interest bearing. The fidelity and transparency of e-Money stablecoins will be ensured by Ernst & Young providing quarterly Proof of Funds.
e-Money currently supports several European currency-backed stablecoins such as the EEUR, the ECHF, and tokens backed by Scandinavian currencies (ENOK, EDKK, and ESEK). The e-Money ecosystem has a second token, the NGM “Next Generation money” which is a staking token and rewards token. Users can stake NGM to secure the e-Money network.
Unlike most existing stablecoins which aim to maintain a static 1:1 peg with their underlying assets, the value of e-Money’s currency-backed tokens continually shifts in line with the interest accrued on the reserve assets. This means that holders benefit from the interest accrued on their assets while they sit securely in your wallet. The e-Money blockchain supports instant payments at scale and includes a DEX for easy conversion between currencies. e-Money has already integrated with Cosmos Hub, Osmosis, and Ethereum and expects to integrate with all major networks moving forward.
