Brickblock Partnering with Mexico’s Intercam Bank to Tokenize ETFs
As we move closer to publicly selling the world’s first tokenized real estate asset, we are also making progress in introducing tokenized ETFs.
Earlier this week we signed a letter of intent with Mexico City-based financial service provider Intercam Banco. The partnership will enable Brickblock to sell tokenized exchange-traded funds (ETF) from Intercam’s portfolio through our smart contract platform. The ETFs are provided by Intercam partner Quanta Shares. Talks involved both Intercam Chairman Eduardo Garcia Lecuona and Quanta Shares Director Carlos Kretschmer.
Intercam will be able to offer its ETFs to investors from all over the world through Brickblock. For us, it represents the first step in our effort to make investing in ETFs more accessible and cost-effective.
This is especially attractive for emerging markets like Mexico. Our smart contract platform eliminates the geographic restrictions, minimum amounts, and high fees associated with investing via traditional financial institutions. Through Brickblock, retail investors in emerging markets will be able to access ETFs that track strong robust economies and industries. In turn, tokenizing ETFs opens these markets up for international investment.
“We are encouraged by Intercam’s interest to tokenize assets through Brickblock and look forward to a mutually beneficial long-term partnership,” said Gonzalo Sanchez Slik, Brickblock Head of Business Development for Latin America.