India’s international financial services center (IFSC), Gujarat’s GIFT City, is readying to launch its first regulated tokenization platform for real world assets (RWA) in January 2024, the Times of India reported. India is positioning GIFT City as a competitor to Singapore and Dubai.
A spokesperson for GIFT City regulator, the IFSCA, said that the first tokenized asset class will be real estate, but art, aircraft and ships are on the agenda. “This will enable more foreign investors to fund development and other projects here,” the official said.
The team behind real estate development firm Collated has created a separate blockchain fintech, Terazo, to tokenize assets on the Poylgon blockchain. Terazo says it’s part of the GIFT City sandbox and it also provides a marketplace. GIFT City’s Alternative Investment Fund (AIF) is used to structure the investment.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
