French Fintech Firm Announces $78.5M Paris Real Estate Tokenization Deal

French fintech firm ID Distribution announced a joint venture with local real estate firm Groupe JRI, amining to tokenize various properties in Paris.

According to a June 17 announcement, ID Distribution and Groupe JRI plan to jointly issue security tokens and a Frankfurt listed bond to acquire buildings in downtown Paris. The total amount of funds to be spent, 70 million euros (about $78.5 million) will be allocated to acquire five buildings which will be then leased.

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