Japanese tokenization platform Progmat is exploring the potential for tokenizing overseas real estate. It’s the most prolific tokenization platform in Japan, founded by MUFG with backing from the other big three banks, SMBC and Mizuho, alongside others. So far most of the security tokens issued have been linked to single large real estate properties in Japan, with one or two digital bonds. Now they’re considering how to expand the types of security tokens.
There’s an affiliated Digital Asset Co-creation Consortium (DCC) with 282 members. A much smaller DCC working group explored which types of tokenized assets to consider. Out of sixteen options, overseas real estate is the top of a shortlist of five. The others are real estate construction, wind power infrastructure, solar infrastructure and funds.
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