The German Federal Financial Supervisory Authority (BaFin) approved an Ethereum-based real estate bond of security issuance firm Fundament Group. The company announced the news in a press release shared with Cointelegraph on July 23.
The given bond backed by a portfolio of properties in major German cities with an issued volume of 250 million euros ($280 million). The firm’s solution reportedly leverages standardized and regulated financial instruments to build a real estate-backed asset that can be traded worldwide independently of banks.