The Philippines based project, Instant Access Token (IAT), is set to launch its initial exchange offering (IEO) on 21 November 2019 on ProBit Exchange. The project is managed by Singapore-based Zenith Peak Ltd. The project looks to tokenize real-estate assets, enabling developers and property buyers to utilize blockchain features such as smart contracts.
The announcement of IAT’s launch comes at a time when property markets in Asia are booming, and are attracting the attention of global investors. Using blockchain and smart contracts IAT hopes to bring transparency as well as reduce restrictions for the property markets.
“The launch of the IEO will allow IAT to focus on acquiring both commercial and residential properties within key development areas and Central Business Districts (CBDs) in the Philippines. In addition, we are also looking to expand into other attractive Southeast Asian markets such as Cambodia, Vietnam and Thailand.”
“The IAT platform can potentially halve the total transactional cost in the traditional real estate industry, which can sometimes inflate to as high as 24% of the property’s value. Its proposed structure increases integrity and security for investors – creating an ecosystem that saves both time and money.”
Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity
Did you like the news you just read? Please leave a feedback to help us serve you better
Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.
A New Era for Global Trade: Alibaba Taps JPMorgan's Blockchain Global commerce has long been…
The Promise of Web3 Meets a Centralized Reality Web3 was built on a revolutionary promise:…
Bitcoin's Sudden Plunge Shakes the Crypto Market The cryptocurrency market is awash in red after…
Macro guru and Real Vision CEO Raoul Pal shone the spotlight on a rising layer-1…
As the technology landscape transforms at lightning speed, AI Companions has positioned itself as a…
Did you know that 85% of DeFi value is concentrated in six blockchains? DeFi is…