Homium, a real-estate equity mortgage lender and securitization platform, has gone live with its first home equity loans on Avalanche.the market will grow to as large as $10 trillion in this decade. Tokenization is a process whereby a digital representation of a real world asset – a home equity loan in this instance – is issued on a blockchain.The Homium loans are currently live in Colorado, with plans to expand to other states.
The aim is to help free up trapped home equity and address housing affordability issues in a variety of scenarios, according to the press release. Homium is also offering an investable asset to institutional investors via digital securities backed by homeowner equity. “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 Tommy Mercein, CEO of Homium.
The company also raised $10 million in a Series A funding round led by Sorenson Impact Group and Blizzard, Avalanche’s ecosystem fund. Avalanche allocated $50 million to purchase tokenized assets created on its layer 1 in July last year. The tokenized assets range from equity, credit, real estate and commodities.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.
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