#real estate

The Hong Kong court has mandated the liquidation of China's largest real estate developer, Evergrande, owing to the company's inability to meet its debt obligations, which currently exceed $300 billion.

Meta has introduced a ban on using artificial intelligence to create ads related to critical social issues, including politics, healthcare, employment, real estate, and finance.

The Wall Street trading overseer, DTCC, recently snapped up the blockchain venture, Securrency. This startup is at the forefront of tokenizing tangible assets like real estate. A cool $50 million sealed the deal.

Singapore witnessed one of its largest crackdowns on money laundering last month. 400 police officers coordinated raids throughout the city-state, detaining 10 foreigners. These individuals allegedly were "laundering the proceeds of their overseas organised crime activities, including scams and online gambling". The seizures were significant, totaling $1.76 billion, with cryptocurrencies accounting for nearly $30 million. The operation also led to the confiscation of 68 gold ingots, 110 real estate holdings, and 62 cars. Sketches released provide a look at those under suspicion.

The Central African Republic (CAR) is expanding its Sango blockchain initiative to include the tokenization of land and natural resources. Recently, the CAR National Assembly passed a law, receiving unanimous approval, that facilitates online business visa applications and simplifies the process for both locals and foreigners to establish businesses in sectors like real estate, agriculture, and forestry. This move follows CAR's earlier efforts in the crypto space, including the launch of Project Sango in May 2022 and its brief adoption of Bitcoin as a national currency.

Zac Prince, the mind behind the crypto lending platform BlockFi, has decided to leave the crypto world behind to focus on the real estate sector, applying his vast expertise to more traditional business ventures. He, however, plans to return to the crypto space eventually with a new company designed to withstand market fluctuations better.

Ichigo, a company based in Japan, is set to introduce the first-ever trade of tokenized securities on the Osaka Digital Exchange (ODX), with assets backed by real estate and valued at $20 million. Similarly, Kenedix, another company specializing in real estate, is planning to launch comparable initiatives.

Floki, initially a meme coin, is venturing into the DeFi space with its new tokenization platform, TokenFi. The platform aims to tap into the burgeoning real-world asset (RWA) market, allowing users to tokenize assets like real estate and cars.

The Real USD stablecoin (USDR), backed by crypto assets and real estate, has lost its peg to the dollar, resulting in nearly a 50% price drop.

Securitize, a digital asset trading platform, has started tokenizing equity in Spanish real estate investment trust, Mancipi Partners. The tokens will trade on the Avalanche blockchain from September. This marks the first tokenized equity issuance under the European Union’s pilot scheme for distributed ledger technology, supervised by the European Securities Market Authority. Securitize will also undergo a six-month supervision period by Spain’s National Securities Market Commission (CNMV). Securitize's CEO, Carlos Domingo, believes the move will significantly benefit European businesses, providing new avenues for capital raises and potential tax benefits.