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tZERO Joins Forces with NYCE to Tokenize $18M of NYCE’s Stock

tZERO, a leader in blockchain innovation and liquidity for digital assets, announced it has partnered with NYCE Group, Inc. (NYCE), a fintech company focused on real estate crowdfunding, to digitize approximately $18 million of equity interest in NYCE, once they are issued, subject to regulatory approvals, in the company’s upcoming Regulation A+ offering.

Founded by FC Barcelona soccer player Martin Braithwaite and award-winning entrepreneur Philip Michael, NYCE is on a mission to create 100,000 millennial high-net-worth stakeholders of color by 2030 through access to its robust real estate portfolio, currently over $260 million of assets under management, through its investment app.

tZERO CEO Saum Noursalehi stated, “We are pleased to partner with NYCE, a pioneer in real estate crowdfunding, and support the secondary trading of its digital security.”

The NYCE digital security will use tZERO’s smart contract technology and is expected to be admitted for trading on the tZERO ATS, subject to legal and regulatory due diligence and securities laws considerations, offering investors secondary liquidity.

NYCE CEO Philip Michael said, “Through our partnership with the leader in liquidity for digital securities, tZERO, we are excited to provide investors with liquidity optionality.”

NYCE closed its Regulation Crowdfunding (Reg CF) offering in October 2020. The company raised $1 million in gross proceeds on the Wefunder and Republic investing platforms, setting the record for the fastest real estate company to raise $1 million through a Reg CF offering. NYCE reopened its WeFunder offering in March 2021 and is in the process of raising additional capital. Thus far, over 5,000 investors have participated in the initial and subsequent NYCE offerings.

Photo by Anthony DELANOIX on Unsplash

See also: tZERO & Wazuzu Partner to Bring NFTs and Security Tokens to Market

tZERO Launches New Crypto App Available on iOS and Android Devices


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