Source: STMSTM data currently tracks 595 real estate tokens, which represent the largest number of active tokens by asset class but are much smaller than debt and equity tokens in terms of monetary value. Although real estate tokenization remains in its early days, Mantra co-founder and CEO John Patrick Mullin told Cointelegraph that the industry could be worth trillions in the near future. “If you’re looking at the base ecosystem right now, it’s still a drop in the ocean compared to where we expect this to go in the mid-to long term.
The platform is participating in an EU blockchain sandbox as it seeks registration under the Markets in Crypto-Assets (MiCA) and Markets in Financial Instruments Directive (MiFID) frameworks. According to the announcement, REX is also eyeing registrations in South Africa and the United Arab Emirates. REX’s parent company, DigiShares, has facilitated between $100 million and $200 million in tokenized real estate assets since 2018.
As Cointelegraph explained, secondary RWA trading platforms provide liquid off-ramps for investors looking to cash out of their holdings. The REX platform will launch with two luxury property listings in Miami, Florida, including The Legacy Hotel & Residences, a 529-unit tower managed by real estate investment platform FraXion, and a 38-unit residential complex managed by Trade Estate.
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