Germany’s national stock exchange and one of the country’s largest banks have teamed up with a fintech startup to develop a series of digital, blockchain-based platforms for ‘real assets’ like art and real estate.
Deutsche Börse, Commerzbank and 360X will jointly work on the project to bring digital technology to traditionally illiquid assets.
This has long been cited as one of the most attractive benefits of digital asset classes and tokenisation.
Tokenised assets are mapped on blockchain technology to enable access to investors and allow the fractionalisation of the underlying asset.
“We create transparent and liquid trading venues for assets that have not yet existed in digital markets,” said founder and chief executive of 360X Carlo Kölzer. “We are therefore starting with trading venues for art and real estate.”
The first reference transaction for the two asset classes is planned for some time later in 2021.
According to a statement, the involvement of Commerzbank and Deutsche Börse should ensure legal certainty, compliance with regulatory frameworks, and the establishment of an orderly secondary market.
The project will also help Deutsche Börse extend into the digital space. “I am convinced that Deutsche Börse has to venture into new asset classes,” said Theodor Weimer, CEO of Deutsche Börse. “In the future, we will see a broad tokenisation and digitisation of assets that are not tradable today.”
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