RealFund launches first debt tokenisation within the regulatory Sandbox, with Metrovacesa and Datacasas

• RealFund, a Blockchain services firm, provides the design, the technological base and ensures regulatory compliance of a project for the issuance and tokenisation of a participative loan, selected by the Public Treasury to participate in the regulatory Sandbox, under the supervision of the CNMV.
• The objective of the project is to tokenise a participating loan requested by Datacasas Proptech to finance the development of its innovative Basicnex technology, a system for selling homes remotely.
• Metrovacesa provides the use case, the homes of the exclusive Málaga Towers project and allows access to the tokenisation project from its building in the metaverse, where this development is already being marketed.

Madrid, 15 March 2022.

The Regulatory Sandbox is a space for experimentation to promote innovation in financial services in a secure environment where entrepreneurs have the opportunity to develop new financial products and services.

The objective of this project is the launch of a participative loan requested by Datacasas Proptech through Blockchain technology, with the aim of financing the development of a remote home sales system, Basicnex, to digitally market the project developed by Metrovacesa, Málaga Towers, located in Málaga city.

This initiative is part of Metrovacesa’s innovation strategy, with the aim of developing new models of digital home buying, in this particular case, aimed at foreign customers. The developer’s extensive experience and leadership in innovation has enabled it, in addition to providing the homes being marketed in one of its most outstanding developments, to design the project’s use case, also acting as a link between RealFund and Datacasas Proptech.

This project is the first debt token issuance requested by Datacasas Proptech and will be technologically developed by RealFund within the regulatory Sandbox under the supervision of the CNMV, which will promote the creation of a unique sales tool in the market.

Those interested in investing in this project will have the security of doing so within a secure system controlled by the CNMV, with total transparency given that the corresponding information is immutably recorded on the blockchain. Furthermore, the loan has been issued in accordance with the requirements of the Capital Companies Act.

Through the Datacasas website, those interested in investing (the informed consent of the investor will be sought as it is the Sandbox), will find all the information related to the investment process. The minimum investment is €300 (corresponding to 30 tokens worth €10 each) and is paid into an escrow account.

Once the entire equity loan is raised, the investment will be closed and the funds held in the escrow account will be transferred to Datacasas and, using RealFund technology, the tokens will be issued and sent to the investor’s digital wallet (recommended Metamask wallet).

After a period of 6 months, Datacasas will return to each investor the amount invested plus the fixed interest generated, which amounts to 6% over a six-month period, and a variable interest to be determined according to the sales made in the Metrovacesa Málaga Towers development through basicnex. The investor will decide whether he/she wants to receive the interest in euros or in a stable coin linked to the US dollar.

Users of the Decentraland metaverse, where Metrovacesa and Datacasas already market the Malaga Towers development, will find information on the purchase of the tokens associated with this project in their building.

José García Caballero, CEO of RealFund, said: “Through tokenisation, we democratise real estate investment, improving security, transparency and, above all, its liquidity. RealFund substantially optimises the process of issuing, holding and transmitting fractions of real estate value, using blockchain technology”.

Santiago Cabezas-Castellanos, CEO of Datacasas Proptech, said: “Having the opportunity to access investment through tokenisation and having the supervision of the CNMV is another step forward for our start-up and allows us to be the Proptech benchmark in Europe. It is impossible to have better travelling companions: Metrovacesa and RealFund. Our sales system “basicnex”, successfully taken to the metaverse, has already sold properties in 2021 for more than 12 million euros so, at this point, now is the time to grow. The blockchain offers a world of possibilities, and at Datacasas Proptech we have a vocation to be at the forefront”.

Carmen Chicharro, Commercial, Marketing and Innovation Director of Metrovacesa, highlighted: “Metrovacesa decided four years ago to bet on Blockchain as a strategic line of innovation. This project is a clear example of this commitment and of the teamwork between corporate and startups, in a disruptive project in which a tokenised participative loan is brought to reality, accessible from the metaverse, whose tokens and their interests will be sent, if the user so wishes, to their wallet. The benefits of this technology, such as immutability, make sense, providing greater confidence to the investor”.