Digital Assets: Vertalo to Tokenize Real Estate in Mexico and Canada

September 1, 2020 | Digital Assets, News, Real Estate
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MountX Real Estate Capital has enlisted Vertalo Real Estate to tokenize 15 properties.

MountX Real Estate Capital is a proptech investment platform that provides access to investment opportunities backed by institutional-quality real estate assets in Canada. The firm has partnered with Vertalo, a digital transfer agent that specializes in the tokenization of assets, to design and launch over 15 digital real estate projects in Mexico and Canada. (Securities.IO)

With offices in both Mexico and Canada, MountX is seeking to digitize these assets over 2020 and early 2021. Vertalo is an SEC-registered digital transfer agent (DTA). It provides the services of a traditional Transfer Agent with the additional benefit of digital enablement. It is therefore able to connect and empower issuers within the Security Token Ecosystem. Vertalo’s real estate division, Vertalo Real Estate (VRE) launched in June 2020. It focuses on the digitization and tokenization of real estate assets.

Digitization of MountX real estate

VRE is collaborating with companies and issuers such as MountX to expand and broad base its real estate tokenization services. The deal with MountX is the third of four deals entered by VRE for the tokenization of real estate.

Meanwhile, MountX wants to bring the safe and attractive real estate market of Canada and other international locations within the reach of Latin American investors. To do this it is leveraging proptech and digitization for the construction of a global real estate investment platform.

Enrique Suarez, Co-founder and CEO of MountX said the two companies shared “the same vision of simplifying complex transactions with great technology, backed with robust security and transparency. This partnership enables us to empower people to become global real estate investors, in a simple, secure, and exponential way.”

Co-founder and CEO of Vertalo, Dave Hendricks, said: “VRE was conceived and launched to help increase access to the best real estate investment opportunities, powered by simple-to-use technology, and designed for teams like MountX.”

Vertalo’s maiden deal

In April, Vertalo consummated the first deal on its platform – it teamed up with consulting firm Advantage Blockchain and alternative trading system tZERO to tokenize a portfolio of Class A properties owned by Pennsylvania-based Real Estate Capital Management worth $300 million.

Advantage will use the Tezos blockchain to tokenize the real estate through Vertalo. Investors may trade their tokens on the tZero exchange through broker-dealer Dinosaur Financial Group. Nevada-based Prime Trust will be the custodian for the tokens.

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