Mata Capital, in partnership with ConsenSys and Screeb, deploys a blockchain platform for the real estate fund industry
This blockchain platform aims to become the new value transfer solution for real estate investment transactions. Mata Capital thus becomes the first operator in the real estate industry to leverage blockchain technology for real estate investments.
Paris, France — Mata Capital, an independent player in the management of real estate investment funds with around 600 million euros of assets under management, today announced the adoption of blockchain technology to optimize the processing of securities registers for its real estate investment products. The launch of this new platform was carried out in partnership with ConsenSys, a leader in the development of blockchain software products, and Screeb Notaires, a notary office that supports innovative projects in the real estate sector.
As per the French decree of December 24, 2018, players in the world of finance have the opportunity to use a distributed ledger technology for the representation and transmission of financial securities. Driven by the evolution of the regulatory framework, and its strong belief in blockchain technology, Mata Capital has decided to leverage this innovative technology to record and process some of its real estate investment operations.
In concrete terms, Mata Capital will register financial assets – in this case the shares of a capital company that owns real estate – and associated rights in the form of a “token”* represented on the Ethereum blockchain. In addition to significantly reducing liability management costs for the issuer, blockchain technology enhances the liquidity of unlisted assets, increases transaction transparency, and reduces the risk of fraud.
“Tokenization will allow us to provide better liquidity to our investors, especially in the secondary market,” says Baptiste Saint-Martin, product development manager at Mata Capital. “Innovation is at the heart of Mata Capital’s strategy, as illustrated by the recent implementation of an operational platform to secure all of our subscribers’ information,” adds Souleymane-Jean Galadima, director of the innovation pole and digital business at Mata Capital.
The blockchain platform proposed by Mata Capital, which will be operational from July 31, offers several major features for investors:
– It holds the registry of fund holders for real estate funds;
– It allows investors to carry out all AML (“anti-money laundering”) and KYC (“know your customer”) actions through the platform; and
– It offers the possibility to follow the evolution of the status of the subscription to a fund or a “club-deal” operation.
Eventually, it could allow investors, in particular, to easily subscribe and resell their securities over the counter, starting from one euro cent. This new blockchain platform will be used for a real estate project, structured in a club deal, located in the 15th arrondissement of Paris for an investment volume of 26 million euros. “This will be the largest tokenized operation in Europe,” says Baptiste Saint-Martin. In the future, its purpose will be to handle all the eligible operations of Mata Capital, which also intends to offer this white label solution to professional partners in the financial and / or real estate sectors.
To carry out this project, Mata Capital relied on the expertise of ConsenSys and its turnkey products for the tokenization of white label financial assets. ConsenSys’ products enable organizations to easily connect their businesses to distributed networks, deploy and manage new blockchain networks, read and write transactions, or create and manage digital assets.
“This first step marks the beginning of a radical transformation of the real estate sector. With the ConsenSys platform, we enable our customers to move from the age of experimentation to one of industrial growth,” says Matthieu Bouchaud, Head of Real Estate at ConsenSys.
Screeb accompanied Mata Capital in the implementation of the solution through a third-party mission of trust. Through this project that illustrates the evolution of the notarial profession accompanied with innovative property solutions, Screeb confirms its ability to advise the actors in digital transformation along with its sound practice in institutional real estate.
“The project supported by Mata Capital is a major innovation in how to design and process financial securities transactions with a real estate asset in a fully secure and digitized way,” say Arthur Cazalet and Damien Mancel, associate notaries at Screeb. *A “token” is a digital asset issued and exchangeable on a blockchain
About Mata Capital
Mata Capital is an independent management company specializing in the management of real estate funds for institutional investors and private family groups. The company is positioning itself on core + opportunistic risk profile investment strategies across all real estate asset classes. Created in 2015, Mata Capital brings together 19 professionals and manages an outstanding amount of 600 million euros on June 30, 2019. Mata Capital is licensed as a Portfolio Management Company by the Financial Market Authority under the number GP-16000024.
For more information, please visit: https://www.matacapital.com/fr/
ConsenSys is a blockchain company dedicated to transforming the world’s digital architecture toward a more open, inclusive, and secure internet of value, commonly called Web3. With a more trustworthy internet architecture, ConsenSys is helping enterprises and governments unlock new business models and value, gain efficiencies through a shared IT infrastructure, and utilize modern cryptographic methods to safeguard private user data. Through our unique global business comprised of a venture fund and startup incubator, Enterprise Ethereum consulting arm, and an educational Academy, ConsenSys is building for the decentralized future. For more information, please visit: www.consensys.net
About Screeb Notaires
As a historical player in the Paris market, Screeb has built its reputation on the excellent support provided to institutional, private and professional clients. The office has eleven notaries and forty employees who act with rigor and efficiency in real estate, banking and financing and wealth and family. However, Screeb’s excellence is rooted in its ability to adapt to changes that impact its customers. Always on the move, the office develops smart solutions adapted to meet new demands and new challenges. For more information, please visit: https://screeb.fr/en/