tZERO partners with real estate crowdfunder NYCE Group

By Pavithra R

tZERO, a leader in blockchain innovation and liquidity for digital assets, has announced partnering with NYCE Group, a FinTech company focused on real estate crowdfunding, to digitize approximately $18 mn of equity interest in NYCE, once they are issued, subject to regulatory approvals, in the company’s upcoming Regulation A+ offering.

“We are pleased to partner with NYCE, a pioneer in real estate crowdfunding, and support the secondary trading of its digital security,” said tZERO CEO Saum Noursalehi.

Founded by FC Barcelona soccer player Martin Braithwaite and award-winning entrepreneur Philip Michael, NYCE is on a mission to create 100,000 millennial high-net-worth stakeholders of color by 2030 through access to its robust real estate portfolio, currently over $260 mn of assets under management, through its investment app.

NYCE closed its Regulation Crowdfunding (Reg CF) offering in October 2020. The company raised $1 mn in gross proceeds on the Wefunder and Republic investing platforms. NYCE reopened its WeFunder offering in March 2021 and is in the process of raising additional capital. Thus far, over 5,000 investors have participated in the initial and subsequent NYCE offerings.

The NYCE digital security will leverage ZERO’s smart contract technology and is expected to be admitted for trading on the tZERO ATS, subject to legal and regulatory due diligence and securities laws considerations, offering investors secondary liquidity.

“Through our partnership with the leader in liquidity for digital securities, tZERO, we are excited to provide investors with liquidity optionality,” said NYCE CEO Philip Michael.

tZERO Group and its broker-dealer subsidiaries (tZERO) provide an innovative liquidity platform for private companies and assets. It offers institutional-grade solutions for issuers looking to digitize their capital table through blockchain technology and trade on a regulated alternative trading system. The firm democratizes access to private assets by providing a simple, automated, and efficient trading venue to broker-dealers, institutions, and investors.