The Layer-1 Mavryk network said it raised $ 10 million in a strategic investment led by the Multibank Group financial derivative supplier to expand its tokenization plans for the active of the real world (RWA).
Mavryk Network and Multibank have an existing association to tokenize more than $ 10 billion in 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 announcement sent by email on Wednesday.
The initiative is also compatible with the main suppliers of custody of Fireblocks digital assets, which provides multiparty computing wallets that protect the tokenized assets on the Mavryk network. This allows investors to trade and borrow against their tokens supported by real estate without having to administer their own private keys.
The financing round follows the $ 5.2 million collected by its developers, Mavryk Dynamics, in February.
Rwas tokenization refers to representing real world assets, such as actions and bonds, such as digital tokens that can be purchased and sold in blockchains.
Among other motivations, one of the proposals for tokenization is to generate greater liquidity through the expansion of access to a larger group of investors. The idea is that a class of generally ilíchid assets, such as real estate, could benefit significantly from tokenization.
Deloitte has predicted that the global tokenized real estate market could be worth $ 4 billion in 10 years.
