Blocksquare has disclosed to Bitcoin.com News that it has achieved a significant milestone by tokenizing 118 diverse properties, including hotels and healthcare facilities, across 21 countries. This milestone was supported by the European Union's first notarization of a tokenized real estate transaction, enhancing the legal framework for secure blockchain operations.

The initiative aims to establish new global standards for the security and efficiency of real estate investments. Denis Petrovcic, co-founder and CEO of Blocksquare, emphasized the value of tokenizing real-world assets (RWAs) like real estate, stating, "Over $100 million in real estate assets in 21 countries across the globe is a clear signal to the industry that tokenizing RWAs holds immense value for creating a bridge to invest in traditional assets."

In addition, Blocksquare's introduction of Oceanpoint v0.5 offers a decentralized finance (defi) platform tailored to support startups in real estate tokenization. The platform provides tools and financial incentives, including substantial discounts on Blocksquare's software-as-a-service (SaaS) solutions, to facilitate easier entry and scalability for emerging businesses in this sector. This initiative is driven by Blocksquare's utility token, BST, which enables community members to engage in governance and earn rewards through staking.

The popularity of real-world asset (RWA) tokenization has surged due to the expansion of defi protocols, growing interest from financial institutions and governments, and the potential benefits it offers, such as increased liquidity, reduced costs, transparency, and accessibility to previously illiquid assets. The RWA landscape has evolved significantly beyond its initial focus on assets like gold and the U.S. dollar in recent years.