$3B real estate to be tokenised through blockchain deal

MultiBank Group, MAG, and Mavryk have signed a $3 billion real-world asset (RWA) tokenisation deal that will bring MAG’s luxury real estate to the blockchain.

According to a press release, the agreement will place MAG’s premium real estate developments, including The Ritz-Carlton Residences, Dubai, Creekside and Keturah Reserve, on MultiBank.io’s regulated tokenisation platform.

The assets will be represented as individual RWA tokens on the Mavryk blockchain and made available to global investors.

“These $3B worth of MAG’s real estate will be tokenised as individual RWA tokens on MultiBank’s platform, each represented on the Mavryk blockchain as the underlying layer-1 infrastructure,” said Talal Moafaq Al Gaddah, senior executive vice chairman of MAG.

MultiBank will handle regulatory oversight, governance, and liquidity, while Mavryk will manage the blockchain infrastructure and DeFi integration.

The tokenisation process allows for daily yield distribution to token holders and aims to provide wider investor access to high-value real estate.

The MBG token, which will be used within the ecosystem, offers utilities including trading discounts, early access to properties, and a buyback-and-burn model based on platform revenue.

Al Gaddah added that tokenised assets “can be used as collateral for derivatives within the MultiBank Group,” enabling interaction between traditional finance and tokenised assets.

The platform’s tokenised real estate portfolio is projected to grow from $3 billion to $10 billion.

MAG’s portfolio will be fully interoperable within the broader Mavryk DeFi ecosystem, according to the announcement.

On April 30, BlackRock filed plans to issue digital ledger-based shares tied to its Treasury Trust Fund (TTTXX), reflecting broader market interest in blockchain for traditional assets.