The Layer-1 network Mavryk has announced a $10 million strategic investment led by financial derivatives provider MultiBank Group, aimed at enhancing its tokenization of real-world assets (RWA).
Mavryk Network and MultiBank are already collaborating to tokenize over $10 billion in real estate across the United Arab Emirates using MultiBank’s RWA platform.
According to an emailed announcement made on Wednesday, both companies intend to increase access to premium investments like real estate.
This initiative is further backed by the prominent digital asset custody provider Fireblocks, which offers multiparty computation wallets to secure the tokenized assets on Mavryk’s network. This system enables investors to trade and borrow against their real estate-backed tokens without the need to handle their own private keys.
The funding round comes after Mavryk Dynamics, the project’s developers, raised $5.2 million in February.
Tokenization of RWAs involves converting ownership of real-world assets, such as stocks and bonds, into digital tokens that can be traded on blockchains.
One of the key benefits of tokenization is its potential to enhance liquidity by opening up investment opportunities to a wider audience. This is particularly relevant for traditionally illiquid asset classes like real estate, which could see considerable benefits from tokenization.
Deloitte predicts that the global market for tokenized real estate could reach $4 trillion within the next decade.
