Harbor, working with consulting firm Rhodium, is once again trying to bring tokens into real estate

The Block reportsHarbor is working with Rhodium Capital Advisor to lend its technology to a real-estate investment fund in tokens.

This is another attempt to introduce tokens into the real estate market after Harbor's first deal failed last month.

According to a press release, the company is working with Rhodium Capital Advisor to design a security-type token that represents multiple property ownership in the hope of providing affordable housing. They will focus on urban and suburban housing projects in the United States, with the first step including raising money for a development fund for fiat money and cryptocurrencies, which in particular give priority to bitcoin, ether and the Gemini stable currency. Rhodium Capital Advisors is a fully integrated real estate investment firm focused on value added opportunities in the multi-home and office space.

John Leo, chairman of Primary Capital LLC, the brokerage firm that brokered the deal, said the symbolic model of home ownership was to expand investors' access to Capital. He added that using Harbor's technology allows crypto investors to get liquidity more quickly than traditional investment funds, which limit investors' access to frozen chips. Harbor ensures compliance with securities laws and allows investors to transfer ownership of tokens, according to the company.

Rhodium Capital Advisor is known to have acquired and managed more than $1 billion in real estate and currently owns nearly 100 portfolio properties and about 10,000 residential units in the United States.

Harbor had previously tried to provide students at the University of South Carolina with a $20 million oversize dorm and devised a scrip model. The project didn't go well, with a spokesman for the Hong Kong stock exchange at the time citing the impasse between issuers and mortgage lenders as the reason for its failure.

Learning from last time, Harbor adjusted its strategy, changed its model slightly and introduced Harbor Platform 2.0 to facilitate issuers and brokers.

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