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Real estate technology company reAlpha has hired Vijay Rathna in the position of chief crypto officer (CCO), Inman learned in a Feb. 6 press release.
Rathna will assume the position on Feb. 20, taking on “all of reAlpha’s blockchain and cryptocurrency initiatives, including token strategy, blockchain integrations and digital asset innovation,” the release stated.
Currently an associate professor at Columbia University lecturing on “Blockchain and AI,” Rathna was previously senior vice president of innovation and development at Coretelligent (merged from Chateaux Software). Rathna’s expertise in what is still an emerging sector in real estate should propel its adoption given reAlpha’s presence as a homebuying platform.
Rathna’s role at Coretelligent found him leading the development of a blockchain-based digital ticketing platform, an SEC-approved stablecoin in a money market fund for a fintech company, as well as a blockchain product for a global insurance company.
This is ReAlpha’s second C-level hire in six months. It named William Brent Miller CFO in August.
“We are thrilled to welcome Vijay Rathna to reAlpha as our Chief Crypto Officer, making reAlpha one of the first Nasdaq-listed companies to create such a position,” said Giri Devanur, chief executive officer of reAlpha, in a statement. “The creation of this role highlights our commitment to innovate with blockchain technologies and the usage of digital assets. We believe that Vijay’s expertise in blockchain architecture, his entrepreneurial mindset, and his ability to deliver innovative and compliant solutions make him an invaluable addition to our team.”
It was also in August that reAlpha released an application to provide a free solution for end-to-end homebuying representation and advisory services. The service is powered in part by an artificial intelligence the company calls “Claire.”
In the Aug. 20 announcement, reAlpha directly referenced new rules put in place as part of a settlement between the National Association of Realtors and a class of consumers seeking restitution for the way real estate commission payment has traditionally been structured.
Blockchain has an enormous number of potential applications for real estate but that value proposition remains exceptionally challenging to communicate to the industry. While a number of real estate deals have been transacted using cryptocurrency, they’re still few and far between and remain even more rare in the traditional market.
ReAlpha is hoping to find its pace alongside Propy, for example, one of the industry’s more prominent providers and champions of the technology’s value.
Said Rathna on his new job, “I am excited to join reAlpha and contribute to its mission of bringing real estate to the digital era by leveraging AI technologies. I look forward to advancing reAlpha’s blockchain initiatives and delivering impactful solutions for investors.”
ReAlpha is traded on the NASDAQ under the symbol AIRE.
