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Blocksquare, a real estate tokenization protocol, announced the tokenization of $100 million worth of properties across diverse sectors. The team considers this a major milestone in the digital real estate market, enabled by the launch of their new decentralized finance (defi) platform, Oceanpoint v0.5.
From Hotels to Healthcare: Blocksquare Tokenizes $100 Million in Diverse Properties
Blocksquare shared with Bitcoin.com News that it has successfully tokenized 118 properties, including hotels and healthcare facilities, across more than 21 countries. This achievement is supported by the European Union’s first notarization of a tokenized real estate transaction, strengthening the legal framework for secure blockchain operations.
Blocksquare aims to set new global standards for the security and efficiency of real estate investments. “Tokenizing over $100 million in real estate assets in 21 countries sends a strong message to the industry about the value of tokenizing real-world assets like real estate,” Denis Petrovcic, Blocksquare’s co-founder and CEO, told Bitcoin.com News.
In addition, Blocksquare’s launch of Oceanpoint v0.5 provides a DeFi platform to support startups in real estate tokenization. The platform offers tools and financial incentives, including significant discounts on Blocksquare’s software-as-a-service (SaaS) solutions, facilitating easier entry and scalability for emerging businesses. This initiative is powered by Blocksquare’s utility token, BST, which also enables community members to participate in governance and earn rewards through staking.
Real-world asset (RWA) tokenization has gained popularity due to the growth of DeFi protocols, increasing interest from financial institutions and governments, and its potential benefits, such as increased liquidity, reduced costs, transparency, and access to previously illiquid assets. The RWA landscape has significantly evolved from its initial focus on assets like gold and the U.S. dollar in recent years.