Zug – Blockchain-powered startup blockimmo from Crypto Valley has acquired a US client. The Bricks + Mortar Group, which specializes in cannabis real estate brokerage, will use the blockimmo platform for transactions.
blockimmo has developed a blockchain-based platform for real estate transactions. A few weeks ago the first Swiss property was sold to investors via the blockchain using this platform. Now blockimmo has acquired a US client. According to a press release at moneycab.ch, the Bricks + Mortar Group wants to use the Zug platform for future transactions.
Bricks + Mortar Group specializes in real estate brokerage in the state of Michigan, where the growth of cannabis has been legalized. The company wants to use blockimmo’s platform to sell fractional interest in qualified properties to investors internationally. Investors will be able to participate in a regulated fund specifically holding diversified cannabis real estate assets. Investors will receive Cannabis Real Estate Security Tokens (CREST) which represent their shares of the fund.
Richard Goodman, Director of Information Technology at Brick + Mortar Group, said: “With recreational sales recently legalized, and the commercial regulated market coming online in Michigan, there is a huge demand for certified cannabis real estate.” However, qualified locations are limited and require an extensive amount of due diligence. The company’s fund will people to participate in the cannabis industry with no experience, limited risk, and without any ongoing responsibilities.
Bastiaan Don, Founder and Managing Director of blockimmo commented: “With our first white label deal we could not be happier to be delivering our technology and services to the Brick + Mortar Group. We are providing a unique range of propositions tailored to the specific requirements of the real estate + cannabis market in the USA - executing our desire to rapidly expand internationally.”