A merchant bank in Tokyo has signed a deal to tokenize the Estonian property. MBK declared on Monday that it will work in the companionship of BitOfProperty, which is a Singapore-incorporated Tallinn-operating enterprise already in the business.
BOP sells fractional possession of the real estate in the EU member state and at present, holds five properties in the capital of the country producing between 5.3 and 6.59 percent. As per the announcement, BOP will carry out the conversion of assets into blockchain-based tokens. The Angoo Fintech, an Estonian firm obtained by MBK, will further initiate the trading of these tokens.
The Japanese bank has continued to play an active role in the crypto and blockchain sector. It established MBK Asia together with an exchange enrolled with the Kanto Finance Bureau named BtcBox. In September this year, MBK stated signing a deal with BS Securities listed on the Hong Kong Stock Exchange to support in the space of security token offerings and to render support for the expansion of business in Japan and China.