Lyon Real Estate, the country’s largest real estate company, has become the latest major Spanish real estate player to jump on board with the virtual currency blockchain.
The company has announced plans to introduce an ICO on March 12, which it claims will raise up to $2 million.
Lyon has been working with blockchain technology company CoinLab since January.
The announcement comes just weeks after a blockchain-based payment system called Ola was launched in Spain.
Lyancoin, which has been around since August, has grown to be the second-largest digital asset in Spain, with nearly $5 billion worth of assets, according to data compiled by cryptocurrency news website Coinmarketcap.
Lydians have been eager to try the platform out for a while now.
On Wednesday, Lyon announced it had reached $5.6 million in cryptocurrency sales and generated over 2 million lyon daily.
“We believe blockchain technology can make real estate more accessible and efficient,” the company wrote in a statement.
“Through our blockchain platform, we hope to change the landscape of real estate finance.”
Lyon is not alone in this endeavor.
In addition to launching its own ICO, several other major Spanish entities have announced their plans to add a blockchain platform.
One of the most notable is the country of Chile, which announced in January it will open a blockchain consulting service in partnership with blockchain startup Chain.
Chain, which is based in the United States, is already working on an ICO.
Chile’s blockchain platform is being hosted by the Chilean Chamber of Commerce, the National Institute of Advanced Technology and the Chamber of Technology and Finance, which was set up to develop and support digital currencies in the country.
Lyao, the blockchain startup Lyon, is the only major Spanish blockchain startup that hasn’t already been able to introduce its own cryptocurrency to the market.
That being said, Lydian, the company founded by Lyon’s chief executive, says it has been able help create the platform for Lyon to launch its ICO.
The project, which launched in August, will be open to anyone who wants to invest in the platform.
“The real estate sector is still struggling with the introduction of new digital assets and blockchain technology,” Lydia’s co-founder and CEO Jose Maria Lyda said in a blog post announcing the ICO.
“Our objective is to build a platform that will facilitate the growth of the blockchain economy.”