Gates Launches $75M Tokyo Real Estate Tokenization on Oasys Blockchain
The post Gates Launches $75M Tokyo Real Estate Tokenization on Oasys Blockchain appeared on BitcoinEthereumNews.com.
Gates tokenizes $75M Tokyo properties on Oasys blockchain. Plans to tokenize $200B assets, 1% of Japan’s real estate market. Expansion targets US, Europe, Asia, and Japanese IP assets. Japan-based real estate investment firm Gates Inc. announced that it has partnered with the Oasys blockchain to tokenize 75 million dollars of income-generating properties in central Tokyo. Experts consider the project one of the largest real estate tokenization efforts in Japan, as it aims to increase liquidity and provide foreign investors with greater access to the Japanese market. The project will be one of the first stages of tokenization of over 200 billion dollars or 1 percent of the roughly 20.5 trillion yen or 200 billion dollar Japanese real estate market. Gates also aims to make it easier to purchase and sell property using blockchain to avoid legal, regulatory, and language barriers that have ensnared the process of the foreign buyer in the past. Expanding Liquidity and Investor Access Gates will adopt the tokenization through a special purpose vehicle (SPV) that is set in a foreign land to comply with the local legislation. The partnership with Oasys is based on the blockchain-based platform originally targeting the gaming world, currently focused on the field of real-world assets (RWA) tokenization, and provides secure, scalable, and interoperable terms of token issuance. The tokenized assets will allow any investors worldwide to buy, sell, and trade their real estate-backed tokens with Web3 wallets. The model reduces the barriers to entry, ensures that liquidity is maximized, with a vision to scale the liquidity of the token up to 34 billion in the initial stage. Oasys has developed an EVM-compatible proof-of-stake network that provides the seamless migration of assets and wallet compatibility to help institutions to join tokenized real estate markets. Oasys leadership stated that they designed the platform…
