Thailand Securities and Exchange Commission (SEC) Issued Licence to Ethereum-Based Real Estate Project

📣 #ThailandSecurities 🇹🇭 and #ExchangeCommission (SEC) Issued Licence to #Ethereum-Based #RealEstate Project

👉 Fraction, the #HongKong-based #fintech firm #FractionGroup has received a license enabling it to list and trade tokens for fractional ownership of digital and physical assets, according to a September 16 announcement.

👉 The firm uses the #Ethereumblockchain to enable traders to invest $150 into real estate properties. The #ThailandSEC has now licensed the asset-backed token offering service.

👉 The license lays out the foundation for Fraction’s imminent service for asset digitization and fractionalization, which is known as an Initial Fraction Offering (IFO).

👉 The company expects to list the first IFOs for subscriptions in Q1 2022, mainly focusing on the #tokens for properties in #partnership with the local real estate companies. Fraction is now exploring an IFO with a cumulative value of over $460 million.

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