MultiBank Group’s digital asset division partnered with Fireblocks to bring $10 billion in real estate on chain.
Summary
- MultiBank.io launched a real estate tokenization platform
- Fireblocks will provide custody, Mavryk blockchain infrastructure
- Platform aims to tokenize $10B in real estate assets.
Companies are increasingly competing to dominate real-world assets. On Wednesday, July 23, MultiBank.io, the digital asset division of MultiBank Group, partnered with institutional crypto custodian Fireblocks.
Together with the blockchain infrastructure provider Mavryk, the firms plan to bring $10 billion in tokenized assets on the blockchain. The initiative will primarily focus on high-value properties, aiming to make this asset class accessible to a wide range of investors.
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Multibank.io will operate a regulated RWA marketplace, allowing investors to purchase real estate properties fractionally, using both fiat and cryptocurrency. On the other hand, Fireblocks will manage the secure custody of RWA tokens.
The whole platform will operate on Mavryk blockchain infrastructure, complete with smart contract layer and a decentralized ledger. Mavryk will also handle KYC/AML checks, integrations with other DeFi protocols, and programmable logic.
Multibank secures $3B real estate partnership
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The first phase will build on Multibank.io’s $3 billion partnership with MAG Lifestyle Development, featuring projects such as Ritz-Carlton Residences and Keturah Reserve. Zak Taher, founder and CEO of MultiBank.io., stated that the platform will target up to $10 billion in on-chain assets.
“Tokenizing RWAs at scale demands robust infrastructure, uncompromising security, and strict adherence to industry standards. Fireblocks is the custody backbone behind our operations, while Mavryk’s blockchain brings speed and efficiency. Together, we’re opening $10 billion in property investment to a wider audience with full transparency,” Zak Taher, MultiBank.io.
Multibank.io recently launched its own crypto token, MBG. On July 22, the token launched on several crypto exchanges, including MexC, Gate.io, and Uniswap. After the exchange launch, the token briefly doubled in value, surging to $1.
The interest in the MBG token reflects a broader interest in RWA assets, which are currently one of the fastest-growing segments of the crypto market.
Read more: MultiBank’s MBG token is live on MexC, Gate.io, and Uniswap after presale sells out
