Layer-1 Network Mavryk said it raised $ 10 million in a strategic investment led by financial derivative provider Multibank Group to expand its real world (RWA) tokenization plans.
Mavryk Network and Multibank have an existing partnership to tokenize over $ 10 billion worth of real estate in the United Arab Emirates through the latter RWA platform.
The two companies aim to expand access to premium investments, such as real estate, according to an E -Mail message on Wednesday.
The initiative is also supported by a larger provider of digital asset provider Fireblocks, which provides the multiparty calculation’s wallets that protect the tokenized assets on MAVPRIK’s network. This allows investors to trade and borrow against their property -supported tokens without having to manage their own private keys.
The financing round follows the $ 5.2 million raised by its developers, Mavryk Dynamics, in February.
Rwas-tokenization refers to representing ownership of real-world assets, such as stocks and bonds, such as digital tokens that can be purchased and sold on blockchains.
Among other motivations, one of the suggested benefits of tokenization generates greater liquidity through the expansion of access to a larger pool of investors. The idea is that a generally illiquid asset class, such as real estate, could benefit from tokenization.
Deloitte has predicted that the global tokenized real estate market could be worth $ 4 trillion in 10 years.
