Real-World Asset (RWA) tokenization platform digithares carries tokenized real estate trading in Polygon along with the launch of reality.exchange, also known as Rex.
According to a March 25 announcement, the REX is designed to offer investors in the retail of a following area for fractional investments in possession of a second market, which potentially meet existing industrial liquidity barriers. Number Cointelegraph explainedThe second RWA trade platform provides a liquid off-ramp for investors looking for cash in their holdings.
The Rex platform will be launched along with two lists of luxury owned in Miami, Florida, including Legacy Hotel & Residences, a 529-unit tower governed by a real estate investment platform Fraxion, and a 38-unit residential trade estate.
A street view of Legacy Hotel & Residences in Miami, Florida. Source: Google Maps
Digishares CEO Claus Skaaning told Cointelegraph that Rex plans to support “different types of ownership, including residence, commercial and luxurious real estate.” In addition to the two properties of Miami, the REX has “5-6 additional properties in the pipeline,” Skaaning said.
Polygon’s proof-of-stake blockchain was selected due to low transaction costs, fast settlement time and stable security, the company said.
Polygon is the 13th-largest blockchain based on 24-hour trading volume, according to Co ringecko.
Rex is licensed in the United States via texture capital, a registered broker-dealer with the Securities and Exchange Commission. The platform participates in an EU blockchain sandbox as it is looking for registration under markets in crypto-assets (MICA) and markets in Financial Instruments Directive (MIFID) frameworks.
According to the announcement, Rex also looks at registrations in South Africa and the United Arab Emirates.
Rex’s parents’ parent Digishares, has facilitated between $ 100 million and $ 200 million in tokenized real estate assets since 2018.
Digishares is one of the many companies that stands for a piece of Tokenized Real Estate Market. In February, Blocksquare was introduced A framework of real estate tokenization In the EU, which will allow those owned by the property to take up the economic rights that are tied to the ownership.
The United Arab Emirates also appeared as a hotbed for tokenized real estate, with mantra finance Nesession of a license to expand RWA services in Dubai.
https://www.youtube.com/watch?v=Tyo93t72ms
Related: Tokenization can change real estate investment – Polygon CEO
RWA Market gets traction
The RWA tokenization market, which extends beyond real estate to integrate traditional financial assets, art and intellectual ownership, has reached a combined -with $ 62 billion, according to data from the Security Token Market (STM).
The market capitalization of tokenized assets continues to grow. Source: Stm
STM data is currently monitoring 595 real estate tokens, representing the largest number of active asset class tokens but smaller than debt tokens and equity in terms of financial value.
Although real estate tokenization remains in its early days, mantra and CEO co-founder John Patrick Mullin said to the cointelegraph That the industry may be worth the trillion in the near future.
“If you look at the base ecosystem today, it’s still a drop in the ocean compared to which we hope it’s going in the middle of the season. It’s in tens of billions. We hope it’s going to the potential trillion dollars of the onchain assets,” he said.
Magazine: I -Block by Block: Blockchain technology changes the real estate market
