Today, crypto exchange CoinMetro announced that Estonia-based Hansecoin will be the first project on its ICO Express platform. ICO Express is a platform that gives vetted ICOs access to transparent and secure funding rounds, and tokens issued will be immediately tradable on the CoinMetro exchange.
Hansecoin is a project to tokenise hard assets such as real estate, enabling the creation of Asset-Backed Tokens to provide investment access into traditionally illiquid assets such as real estate.
The project was conceived by Dr. Chris Kacher and Axel Jacob. Axel has a background in structured finance and corporate real estate development since the early nineties, whereas Chris has 25 years’ experience trading stocks, and has been involved in crypto since 2013, including early-stage development of Ethereum.
Together, they spotted a funding gap in obtaining development capital for asset-backed projects between EUR 1.5 million and EUR 10 million in size. These projects are too large for friends and family investment but too small for listed funds and wealth management. Hansecoin is positioned as a solution to securing investment for projects that exist within this funding gap. It will be fully regulated and compliant with the requirements of the Estonian Financial Supervisory Authority.
In close collaboration with its regulated crypto exchange partner, CoinMetro, Hansecoin is building the software and infrastructure platform which will tokenise the first use case, a midsize real estate development project consisting of 250 apartments and houses in Tallinn, Estonia.
Dr. Chris Kacher, co-founder of Hansecoin said: “Hansecoin has been designed to address the significant gap between two areas of capital raise. At the lower end, we have current small enterprise banking, friends and family investment which is typically under EUR 1.5 million. At the high end, we have large scale project financing, investments by existing listed funds and wealth managers, which focus on capital raises above EUR 10 million. Hansecoin is perfectly positioned between the two.”
Kevin Murko, CEO of CoinMetro said: “Asset-backed tokens are the next phase of crypto financing; the asset provides a floor to the price and increases stability versus speculative tokens. Hansecoin’s residential development in our home city of Tallinn is a perfect example of an asset-backed token, and that’s why we have chosen it as the first project on our ICO Express platform.”