Real-world asset (RWA) tokenization protocol, Blocksquare announced that it has tokenized $100 million worth of real estate properties on its platform.
According to a press release sent to CryptoPotato, the tokenization of $100 million in real estate assets coincides with the launch of Blocksquare’s decentralized finance launchpad, Oceanpoint v0.5, geared towards empowering real estate tokenization startups.
Blocksquare Tokenizes $100M in RWAs
Blocksquare’s tokenized assets encompass 118 properties, including restaurants, hotels, healthcare facilities, apartments, and parking lots across over 21 countries. The firm said its success is tied to its legal structure, which is recognized by the notarization of a tokenized real estate transaction on the European land registry.
In September 2023, Blocksquare achieved a first-of-its-kind milestone by executing the world’s first notarized tokenization of a real estate property and integrating it with the Slovenian land registry. The feat unlocked the protocol’s access to approximately $16 trillion market potential.
“This achievement enables secure on-chain operations, setting a new global standard and demonstrating Blocksquare’s commitment to innovation and security in the real estate tokenization industry,” the company stated.
With Blocksquare’s Oceanpoint ecosystem having gone live, users can stake the protocol’s utility token, BST, or convert it to the governance token sBST. The real estate tokenization infrastructure provider said Oceanpoint adds an additional layer to its already established protocol, creating access to real estate financing for anyone connected to the internet.
Blocksquare Unveils DeFi Launchpad
Market participants can use BST and sBST to earn rewards while supporting tokenization marketplace operators with great potential. Blocksquare’s launchpad initiative gives RWA tokenization startups up to 100% discount on its software-as-a-service (SaaS) solutions, availing them an opportunity to launch and grow their ventures with ease and efficiency.
Blocksquare co-founder and CEO Denis Petrovcic said: “Over $100M in real estate assets in 21 countries across the globe is a clear signal to the industry that tokenizing RWAs like real estate holds immense value for creating a bridge to invest in traditional assets.
Together, our dynamic team, committed marketplace partners, and visionary BST holder community are driving revolution in real estate through democratized investment.”
Meanwhile, Blocksquare said its marketplace pools provide a democratized pathway for operators and community members to engage and grow within the ecosystem.
