Beeline Holdings (NASDAQ:BLNE) announced Wednesday that its subsidiary, Beeline Title Holdings (“Beeline Title”), has closed one of the first-ever residential real estate transactions funded through the sale of a cryptocurrency token backed by real property.
Nick Liuzza, CEO of Beeline Holdings, said several mortgage lenders are already developing funding models that involve converting cryptocurrencies to U.S. dollars at closing.
But for these models to function at scale, they need a title company that not only understands blockchain transactions but also has the infrastructure to disburse and reconcile them in compliance with federal and state regulations, Liuzza added.