Fun

Avalanche home loan tokenization protocol raises $10M in Series A

News Feed - 2024-04-17 01:04:49

Zhiyuan Sun7 hours agoAvalanche home loan tokenization protocol raises $10M in Series A“Homeowners effectively sell a portion of their home’s equity at today’s price and repay at tomorrow’s,” wrote Homium staff.2935 Total views3 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksHomium, a home equity line of credit (HELOC) tokenization protocol built on Avalanche, has raised $10 million in a Series A funding round led by Sorenson Impact Group and Blizzard.


“Through shared appreciation home equity loans, Homium introduces a way for homeowners to borrow against their home equity without increasing their monthly debt burden,” wrote Avalanche in an April 15 announcement. 


By using Homium, homeowners pledge a portion of their home’s future appreciation as collateral for loan equity in maintenance and repairs, debt consolidation or inheritance. At the same time, investors receive a tokenized asset tracking the price appreciation of a pool of shared homes on the protocol.The Homium tokenization overview. Source: Homium


“Homium is building a valuable new asset class for institutional investors, providing a new source of uncorrelated, inflation-protected return in their core portfolios,” said CEO Tommy Mercein in a statement. The first such home tokenization loans are currently available in the United States state of Colorado.


The tokenized assets are backed by second mortgage loans made to owner-occupied single-family homes. Investors of the HELOC tokens are secured to the title like any other mortgage. Homium pledges that every home is “appraised by a third party, hybrid valuation service” with nationwide loan originators. 


While the HELOC tokens are built on distributed ledger technology, they are not cryptocurrencies. Instead, the tokens are debt securities compliant with the United States Securities and Exchange Commission’s (SEC) Rule 144A regarding private placement to institutional investors. Regarding its technology, Homium explained:“Patented technology gives Homium investors a real time window into every loan in each pool including its origination value and current marked-to-market estimated value. Because Homium loans are underwritten to a uniform standard that secures a % of the underlying home equity, this allows instant securitization of the note from inception. Investors receive pooled exposure to home price appreciation by state."


Since July 2023, Avalanche has pledged $50 million in investments for on-chain tokenization protocols, with a major focus on those specializing in real estate and digital collectibles. Meanwhile, financial services giant Citi recently described the tokenization market as the next “killer use case” in crypto.


Related: Avalanche and Chainlink collaborate on Australasian on-chain asset settlement# Blockchain# Cryptocurrencies# Funding# Venture Capital# DeFi# AvalancheAdd reaction

News Feed

3 reasons why Bitcoin (BTC) is up today
Marcel Pechman5 hours ago3 reasons why Bitcoin (BTC) is up todayWeak tech corporate earnings, spot Bitcoin ETF inflows and the potential arrival of a new major investor drove Bitcoin price above $63,000.3859 Total views4
Revolut and Ledger wallet enable new crypto rails in EEA
Helen Partz11 hours agoRevolut and Ledger wallet enable new crypto rails in EEALedger, a major hardware wallet company, has partnered with Revolut to enable crypto trading on its self-custodial wallets in certain EEA cou
Coinchange Announces Truly 0% Fee Brokerage and 25% APY DeFi Platform That Is Secure and Regulated
Coinchange Announces Truly 0% Fee Brokerage and 25% APY DeFi Platform That Is Secure and Regulated press release PRESS RELEASE. Toronto–– Coinchangeis
PODCAST: Caitlin Long on Bitcoin as Insurance Against Financial Collapse
“To me, it’s an insurance against instability in the mainstream financial industry,” said Caitlin Long, one of the most experienced Wall Street professionals to defect to the crypto space.
BA-Backed Firm Raises $5 Million to Put Airline Security on a Blockchain
Blockchain firm Zamna has raised $5 million in a seed funding round led by VC firms LocalGlobe and Oxford Capital for the continued development of its airport security system. Forme
Solana fees to surpass Ethereum, trader loses over $1M due to hard fork: Finance Redefined
Prashant Jha4 hours agoSolana fees to surpass Ethereum, trader loses over $1M due to hard fork: Finance RedefinedIs Solana living up to its so-called “Ethereum-killer” status? And one trader was left over $1 million
Goldman Sachs Sees Huge Institutional Demand for Bitcoin — 76% of Clients Say BTC Price Could Reach $100K This Year
Goldman Sachs Sees Huge Institutional Demand for Bitcoin — 76% of Clients Say BTC Price Could Reach $100K This Year Global investment bank Goldman Sachs is see
Privado ID spinoff takes identity control solution beyond Polygon
Derek Andersen52 seconds agoPrivado ID spinoff takes identity control solution beyond PolygonPolygon’s zero-knowledge self-sovereign identity solution looks to provide privacy with assured authenticity.2 Total viewsLis
Bitcoin Tipped For $340,000 Target If This Support Level Holds – Details
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Brayden Lindrea8 hours agoLido on Solana wind down ‘deemed a necessity’ after low fees, says staking firmUnsustainable financials and low fees generated by Lido on Solana were two of the main reasons for the sunsetti
Telegram close to profitability, considering IPO, owner Durov says
Derek Andersen5 hours agoTelegram close to profitability, considering IPO, owner Durov saysThe world’s fourth-largest messaging app may look for a U.S. listing after its IPO. Investor offers have valued Telegram at ove
Pricing Gold, Food, and Altcoins With the BTC Denominator: How to Measure an Asset’s Worth in Bitcoin
Pricing Gold, Food, and Altcoins With the BTC Denominator: How to Measure an Asset"s Worth in Bitcoin On February 21, bitcoin touched a lifetime price high at $5