This achievement occurred 2 weeks into their token sales, which is to be live for 5 days more. Tokens were sold at 3000 coins per ETH for the first 1 million, with remaining being sold at 1500 coins per ETH. Uberstates purchase, which was equivalent to nearly 2.4 million coins, had no effect on the public sale.
Chairman and Interim CEO of Hada Dbank, Hisyam M stated:
“We are ecstatic on the purchase of HADACoin and to forge a partnership with Überstate by having them as our corporate client which is a mark of confidence on our Banking project. Having 2 blockchain-based projects working together is the true meaning of blockchain economy that represents 1 of the spirits of blockchain in general, sharing economy. We’re looking forward to work with Überstate in servicing their clients in the nearest future and to forge more partnerships with not just blockchain-based but also common entities in our effort to introduce HADA DBank Banking products and services to the mass market.”
Hada Dbank allocated 50 million coins for the pre-ico, 225 million for the ICO, and 20 million for institutional and retail investors. There are still plenty of coins left for institutional investors as Hada DBank continues to aim for their 5000 ETH soft cap and 30,000 ETH hard cap.
Power of Fraction and Tokenization
Uberstate is a real estate cloud funding platform, that looks to revolutionize the way real estate investing is conducted. Typically, there’s a high barrier to entry to real estate as properties can be quite expensive. Uberstate looks to lower the barriers with direct fractional ownership. For the first time, people will be able to own portions of a property, similar to how fractional stocks represent bits of a company.
This is made possible through the company’s real estate investment token, where each token is backed by large-scale hospitality based assets and businesses.
Everybody knows that the sale and transfer of property’s ownership is a tedious process, which requires lots of time and paperwork. Also, sheer number of fees are involved, as people usually need the assistance of a real estate agent.
In its intention to address the issue, Uberstate designed its tokens in such a way, so that they could not only make ownership of properties more accessible but also allow for the sale and transfer of properties to be much more frictionless.
Tokenization of assets not only allows the transfer and sale of properties to be more liquid, but the speed at which it’s done is much faster. Transaction costs are also much lower since all that’s being moved are tokens. What used to take weeks could now take minutes.
The investment platform is 100% automated, allowing investments directly into large-scale commercial real estate and businesses. Of course, investments of this size and volume need a reliable banking platform behind it – Hada Dbank.
Uberstate CEO Jess Davis commented:
“Überstate views HADA DBank as a partner in every respect in the blockchain banking industry. We are very confident in the abilities of HADA DBank to full fill its mission as an Islamic bank on the blockchain and help evolve current the state of the banking industry internationally. We would like to thank DE Asset Management and F1 Cryptos for their role in thistransaction and acknowledge Both Michael Buchbinder and Darrell Emmanuel as thebrokers of record in this transaction and the fidelity of all parties involved.”
Uberstate is announcing a token sale, with exact dates to be made public soon.
Meanwhile, Hada Dbank will continue to seek partnerships and clients, as the token sale continues. There’s around a week left of the ICO’s stage 1, with 2.5 million coins sold.