October 18, 2018, 10:00 a.m. CEST – Brickblock Limited has partnered with JTC Group, a global and publicly listed provider of fund, corporate, and private wealth services to institutional and private clients, to facilitate real estate investments in cooperation with Brickblock’s real estate clients.
Brickblock is a technical service provider for real estate investments on the blockchain. Brickblock clients are the asset providers, and JTC will support select investment processes as the legal custodian of issued shares (also known as the nominee).
JTC is also responsible for holding investors’ funds in escrow and clearing eligible investors, and will provide administration services to the structure of investments. Furthermore, the company will sit on the board that manages select real estate assets provided by Brickblock clients. JTC therefore plays an integral role in Brickblock’s effort to facilitate real estate investments in a way that’s cheaper, more efficient, and more accessible than via traditional financial institutions.
The partnership’s first fruitful collaboration involves Hillview Homes Limited, which will offer the real estate asset Holt Hill, based in Birkenhead, United Kingdom by utilizing Brickblock’s proprietary software. Hillview Homes represents Brickblock’s first real estate asset offering on the blockchain. The funding period will open in the coming weeks.
Investors in Hillview Homes through the Brickblock portal will benefit from the unique benefits of Brickblock’s blockchain-based service – low fees, fast settlements, and limited geographic restrictions – backed by JTC’s professional and secure management. Most notably, investments facilitated by Brickblock are not restricted by long-term holds, enabling investors are to trade or sell their shares at any time. JTC is a key component of the structure that allows Brickblock to create liquidity for an otherwise very illiquid asset class.
Jakob Drzazga, Founder of Brickblock, commented:
“JTC’s expertise is integral for realizing the potential of blockchain technology to positively impact the real estate investment process. I am certain that working together with a company of JTC’s calibre will reinforce the confidence of our clients and potential investors when it comes to Brickblock’s offering.”
Carlo Martinengo, Director of Corporate Services at JTC commented:
“We were delighted to be selected as partner to Brickblock for this exciting and innovative launch and look forward to continuing to support them by providing specialist guidance and ongoing administration support.”
About JTC Group
Established in 1987, JTC is an award-winning provider of fund, corporate, and private wealth services to institutional and private clients. The company has a global presence, with over 650 staff operating in more than 17 jurisdictions and assets under administration totalling more than $100 billion USD.
JTC has expertise in the administration of both traditional and alternative asset classes with a strong focus on private equity, real assets comprising of real estate, infrastructure and renewable energy, hedge and debt. JTC also specialise and has built expertise in more niche
sectors such as FinTech including crypto and ICOs.
JTC also offer solutions to administer the related entities such as special purpose vehicles, trusts, management companies and carry vehicles and supports clients with international regulatory and reporting standards.
JTC serves a wide range of clients, from small to medium-sized enterprises, as well as multinationals including NYSE, FTSE, AIM and Euronext-listed companies.
Brickblock provides a technical service that allows for real estate investments to be transacted via smart contracts on the blockchain. This allows transactions – whether when investing in an asset or raising capital for a project – to be conducted cheaper, faster, and more efficiently than via traditional financial institutions. The proprietary technology that facilitates these transactions has been successfully audited by ConsenSys Diligence, a leader in the blockchain industry.
In October of 2018, Brickblock secured a partnership with real estate management firm Peakside Capital to launch the world’s first tokenized real estate fund. Together with solarisBank AG, the first banking platform with a full banking license, Brickblock recently launched a state-of-the-art digital clearing process that guarantees investors who participate in the sale of Brickblock clients’ offerings are verified according to the highest AML/KYC standards.
Brickblock has offices in Berlin and Gibraltar and secured a €5 million institutional Series A investment from Finch Capital in May 2018.