International Escrow Services
For Fiat and Cryptocurrencies
Real Estate Consortia created a patent pending title token for every piece of real estate in the United States. Each title token is a distributed ledger that tracks the events associated with a property. The title token unique identifier was created to scale for use internationally.
The title token provides value and utility for real estate practitioners by tracking relationships, referrals, and real property status events. One of the most important ledger events in the real property life-cycle is tracking the ownership and sale of these physical assets.
In March 2019, REC joined the National Association of REALTORS® portfolio of companies, which has led to rapid connections in the capital markets and international real estate community. REC is also a founding member of the Real Estate Blockchain Foundation, led by Real Estate Standards Organization leadership.
REC has become increasingly connected in the global residential and commercial markets, developer and luxury markets. A glaring unmet need in the international markets is the lack of international escrow services for the verification and settlement of real property with fiat and cryptocurrencies.
According to NAR, total international sales totaled $121 billion from April 2017 to March 2018. By virtue of REC’s strategic relationships in the international real estate community with leading referral and trade organizations, REC estimates that within five years to be able to facilitate 5% of the global transactions through fiat and cryptocurrency settlement services.
Escrow settlement services will incorporate the following partners:
REC is calling for interested international real estate practitioners and service providers to join the REC pilot. The REC International Escrow Pilot will incorporate brokers and agents and notary attorneys from Asia, Australia, Europe and the Middle East.
For more information about REC, contact Teresa Grobecker at 415.259.7232.