SEC Grants Hashgreed approval to tokenize real estate based assets | Prestige Real Estate News
SEC Grants Hashgreed approval to tokenize real estate based assets
The Nigerian Securities and Exchange Commission (SEC) has granted approval to Africa’s first digital securities platform, Hashgreed, to offer real estate based digital securities.
Hashgreed, the first Asset tokenization platform in Africa built on its native Kross Blockchain – Nigeria’s first blockchain and Africa’s first smart contract powered blockchain, pioneered creative economy tokenizations, real estate tokenizations, equity tokenizations and much more. There are 14 categories on Hashgreed.
However, on November 14, 2023, the Nigeria SEC approved Hashgreed to focus on Real estate based tokenizations throughout the Regulatory Incubation Cohort program 001/23.
Kross blockchain, the nation’s first Layer 1 blockchain will enable Hashgreed to power co-ownership of prime real estate based production assets such as large scale mechanized farms, large scale residential real estates, Oil depots, gas and filling stations, nollywood production studios, tourist centers and such high value assets that is built on land – to millions of Nigerians.
Hashgreed is regulated by the Nigeria SEC and will also partner with capital market operators such as licensed custodians, asset managers, brokers, issuing houses and its own Lagos state registered digital cooperative network called Hashgreed Domain (Vinekross Royals Multipurpose Cooperative LSCS 18742)
“Our mission is to empower millions of young investors both in Nigeria and Diaspora with access to promising digital assets, ensuring they are participating in owning the future in a completely compliant and secure investment environment. Nigeria is currently the second highest ranking nation with regards to owning digital currencies and our Real World Assets exchange platform is poised to supporting very high-quality and scalable real estate based assets, thriving on the Kross blockchain.” explained Efosa Ighodaro, Founder and CEO, Vinekross Technologies Limited, which owns and manages Hashgreed, Kross Blockchain , HashPay and other supporting infrastructure
Real World Assets tokenization will give unprecedented access to wealth building to millions of Africans, allow Issuers to raise funds for their real estate based projects. Nigeria has an estimated $2.2 Trillion worth of Real Estate and Hashgreed is technologically ready to facilitate verification, co-ownership and transfer of these assets within its 3 seconds micro-block time as opposed to several weeks by legacy systems.
“Nigeria has not only come of age digitally, it has leapfrogged the process of owning and distributing physical assets and spreading wealth to a broader spectrum of consumers. Now everyone can invest pennies and prosper from assets hereto limited in opportunities to the wealthy that required billions. It is indeed a new day.” – Dr Alex Nwuba, President of Aircraft Owners and Pilots Association of Nigeria, and cofounder of Vinekross Technologies Limited.
Hashgreed will be announcing high quality offerings in the coming weeks, these offerings are well structured for investor safety and will be insurance backed. Hashgreed can be contacted via email at support@hashgreed.com
