IBN Corp, one of the largest construction companies in Southeast Asia, has announced that it will raise funds via a token created to build a large hotel in Malaysia.
Genting Highlands, Malaysia, April 07, 2022 (NEWSCALL) — IBN Corp has established a regional business center in Malaysia and has several subsidiaries in China, Singapore and Malaysia. The company’s main projects include IBN Highlands City in Genting Highlands, green city in Serendah, Love-Ocean in Kuantan, Bentong Eco Park in Bentong and IBN Bukit Bintang – the tallest residential building in Kuala Lumpur. IBN Highlands City is a billion dollar project developed by IBN Corp Ltd. Located in Asia’s premier resort – Genting Highlands. This mixed-use development project integrates serviced apartments, commercial areas and 5-star hotels to form a luxury property unrivaled in the area.
Asset tokenization has the potential to increase the number of investors in the broader market, growth liquidity compared to traditional bonds, and reduce the time it takes to complete large projects. Tokenization in civil construction has been carried out by major construction companies and partners around the world.
IBN Corp. and Hasbro, the American toy giant, are teaming up to produce one of the biggest breakthroughs in the digital crypto market. Hasbro has over 1,500 brands in its portfolio, including Marvel, Transformers, Peppa Pig, Monopoly and Star Wars. Hasbro recently entered the world of non-fungible tokens (NFTs) with the recent launch of the Power Rangers collections on The Global Asset Exchange (WAX) blockchain.
The developer of the tokenization project for the construction of the IBN Highlands City-Fortune towers in Malaysia is the Brazilian Luiz Góes, co-founder of LGBank and current CEO of LYOPAY. For Góes, the project to build a resort in Malaysia “is not only a pioneer in its scale, but also a turning point in the crypto market and future tokenization initiatives.”
Góes also points out that projects of this dimension result from the plasticity and innovation generated by blockchain technology. For Góes, “what we are currently experiencing is a new phase of crypto-asset consolidation. The market is starting to question purely speculative cryptocurrencies and is focusing on less volatile assets.” In this new scenario, blockchain technology allows the creation of assets (tokens) linked to tangible projects. The decentralized and global nature of the digital economy allows more people around the world with little capital to invest in more transparent and robust projects.
The project is marketing 325,000 tokens, which are already available on LGBank. “The Hasbrotel (HASHM) Token” allows its users to share ownership of IBN Corp. Luiz Góes claims that the operation aims to raise 325 million US dollars. The construction company is expected to deliver the fully completed project in 2025.
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