asset tokenization

Propy and Parcl team announce $10b in homes ready for tokenization

Published

5 months ago

July 19, 2024

Propy, a real estate tokenization platform, and Parcl, a DeFi protocol specializing in real estate data, have announced a strategic partnership aimed at improving analytics for on-chain real estate.

Parcl and Propy are teaming up to enhance the PropyKeys platform, which has already tokenized over $10 billion worth of U.S. homes and is projected to surpass $50 billion by the end of the year.

Propy’s initiative will use Parcl Labs API for improved property valuation and analytics. This access, obtained by acquiring and staking Parcl’s $PRCL token, hopes to bring more real estate markets onto the blockchain.

Real estate and on-chain innovation

In just three months, Propy has successfully on-chained 200,000 addresses, including 80,000 U.S. homes, many of which are currently for sale.

Parcl’s technology aggregates data from over 5,000 sources, offering a comprehensive repository of housing market information. It examines rentals, listings, and sales activity, which are indexed and accessible at the property level.

Their collaboration goal is to offer users cutting-edge tools for interacting with on-chain real estate while fostering accessibility and security in global real estate markets.

Natalia Karayaneva, CEO of Propy, emphasized that this partnership enhances Propy’s mission to secure and elevate the real estate market by providing accurate and transparent property valuations.

“Propy’s mission has always been to elevate and secure the real estate market, and our partnership with Parcl is taking this vision to the next level,” Karayaneva said.

Parcl CEO Trevor Bacon highlighted the potential for this collaboration to set new standards in the real estate.

“We are excited about the potential to power other onchain applications by leveraging Parcl Labs data,” Bacon said. “We expect the partnership to unlock more use cases for Propy and demonstrate what is possible for others looking to innovate in the real estate space,”

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asset tokenization

Zodia Custody teams up with Securitize for institutional access to tokenized assets

Published

4 weeks ago

November 26, 2024

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Zodia Custody has partnered with Securitize, a leader in tokenizing real-world assets.

The collaboration aims to enhance support for institutional investors engaging with tokenized assets, including BlackRock’s USD Institutional Digital Liquidity Fund — BUIDL. Zodia Custody will use Securitize’s technology to expand its custody services for institutional clients holding tokenized assets, according to a company announcement.

Zodia’s custody solution includes secure cold storage, ensuring client assets are segregated and compliant with regulatory standards. This is especially important for institutional investors who prioritize the safety of their holdings in the evolving digital asset market.

Zodia Custody, based in London, is a digital asset custodian supported by major financial institutions, including Standard Chartered, Northern Trust, and SBI Holdings.

Tokenization accessibility

Tokenization involves converting physical assets like real estate, stocks, or funds into digital tokens stored on a blockchain. These tokens represent ownership and can be traded or managed more efficiently than traditional financial instruments.

This process is gaining traction due to its cost efficiency and increased accessibility for investors. For instance, BUIDL has already attracted $530 million in assets under management since its launch in March 2024.

The market for tokenized real-world assets is projected to surpass the $4.5 trillion cryptocurrency market capitalization by 2028. While USD stablecoins currently dominate tokenization use cases, new products linked to assets like debt and real estate are emerging.

Zodia CEO Julian Sawyer emphasized the partnership’s significance, stating: “BUIDL’s growth demonstrates the opportunities in tokenized assets and their transformative potential for both traditional finance and digital-native businesses.”

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Art

Poland’s Pekao Bank using blockchain to preserve art in arctic vault

Published

3 months ago

October 2, 2024

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Poland’s second-largest bank, Bank Pekao, is using blockchain technology to preserve the country’s cultural heritage.

According to a Pekao press release, the bank partnered with Aleph Zero to launch Archiv3, a project aimed at tokenizing Polish artwork and securely storing it for future generations.

Tokenization is the process of turning physical assets, like art, into digital tokens on a blockchain, making them easier to store and track.

For this project, Bank Pekao is digitizing famous Polish artworks, like those by Jan Matejko and Stanisław Wyspiański, using advanced 3D scanning technology. These digital versions are then stored as non-fungible tokens on the eco-friendly Aleph Zero blockchain, ensuring their long-term preservation.

Arctic World Archive

The tokenized artwork will also be archived in the Arctic World Archive, a facility in Svalbard, Norway, designed to protect important data from threats like cyberattacks and natural disasters. The AWA is known for storing cultural and scientific data from organizations like UNESCO and the Vatican, according to an Archiv3 release.

The bank hopes that by using a decentralized ledger, the artworks will remain safe and accessible for future generations, even in the event of a global catastrophe.

This initiative reflects a broader trend of integrating traditional banking with modern technologies like blockchain, opening new avenues for digital asset management.

Earlier, on Oct 2, Christie’s announced plans to use blockchain technology to issue blockchain-based ownership certificates for art sold at auction.

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