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.”
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