Harbor tokenizes real estate funds worth $100 million on Ethereum

Harbor today announced the creation of tokens on the Ethereum ($ETH) blockchain representing the shares of four real estate funds worth $100 million. The move is intended to make these private securities easier to trade for the 1,100 investors that hold them, along with 17 broker-dealers and 17 placement agents that work with the funds’ manager, iCap Equity. Josh Stein, CEO of San Francisco-based Harbor, described Harbor as evolving "from crowdfunding and tokens to being the Salesforce.com” of the security token industry. Speaking to the company's development, he added:

“The overlap between investors demanding tokens and investors interested in security tokens was zero. People were buying tokens but they weren’t buying it to invest, they were buying it to speculate.”