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Blockchain Realty Report #4
- 889Digital
- Oct 8
- 3 min read
Updated: Oct 14
October 8, 2025
Week in Review
This week highlighted how tokenized real estate is expanding across the full stack — from luxury developments to payment rails and compliant infrastructure. The planned tokenization of Trump Tower Dubai brings high-profile visibility to the sector, OSL and Solana’s partnership strengthens regulatory and technical underpinnings in Asia, and Opendoor’s acceptance of Bitcoin bridges crypto wealth with traditional housing. Together, these stories show the RWA ecosystem moving toward mainstream legitimacy, where blockchain isn’t just a backend technology — it’s becoming a full transaction layer for property markets.
Sources: Yahoo Finance (Oct 3, 2025); PR Newswire (Oct 2, 2025);
Featured Projects of the Week
Trump Tower Dubai to Be Tokenized
Donald Trump’s real estate brand is entering the blockchain era with plans to tokenize Trump Tower Dubai. The project is anchored by Mantle’s new RWA platform, supported by World Liberty Financial’s USD1 stablecoin, and aims to fractionalize ownership of one of Dubai’s most recognizable properties. The combination of a luxury landmark and credible infrastructure partners brings unprecedented visibility to tokenized real estate. For RWAs, it’s a test case for how prestige assets can be converted into liquid, compliant digital securities.
Sources: Yahoo Finance;
OSL × Solana: Compliant Issuance Rails for RWAs
Hong Kong–licensed exchange OSL has partnered with Solana to enable compliant token issuance for RWAs through its Tokenworks framework. By merging OSL’s regulatory credentials with Solana’s high-throughput infrastructure, the collaboration offers a credible path for real estate developers and funds to tokenize assets under existing legal structures. The move positions Hong Kong and broader APAC markets as leaders in regulated tokenization — particularly for cross-border property deals seeking both speed and compliance.
Sources: PR Newswire; OSL Press Release
Opendoor Accepts Bitcoin for Home Purchases
U.S. housing platform Opendoor announced it will now accept Bitcoin as payment for home purchases, connecting the digital asset economy directly to residential real estate. While not a tokenization project, this integration marks a critical bridge between crypto-native capital and traditional property markets. For investors, it demonstrates how crypto payments could complement tokenized property distribution — enabling a full on-chain experience from purchase to settlement.
By The Numbers
This week's data section is split in two, as we have been investigating the different ways that Tokenized Real Estate can be classified. Starting now, and in all blogs and newsletters, we'll be abbreviating Tokenized Real Estate as "TRE". While there are perhaps dozens of methods of categorization, this week we want to announce the classification distinction of TRE-Loan and TRE-Own.
TRE-Loan — Tokenized Real-Estate–Backed Debt
Tokens represent credit or debt instruments secured by real-estate collateral — e.g., mortgages, HELOCs, or property-backed loans.
Economic exposure:
Investors lend to property owners or developers.
Token represents a claim on repayment + interest.
Underlying asset = debt secured by property, not the property title itself.
TRE-Own — Tokenized Ownership / Equity
Tokens represent fractional equity ownership of real-world property — direct title, SPV shares, or tokenized fund units holding property.
Economic exposure:
Investors own a slice of the property’s equity.
Returns come from rental yield + appreciation.
Underlying asset = property equity or title rights.
Among both TRE-Own and TRE-Loan projects, it's become evident that Provenance (Figure) is far and away the most influential player in the TRE space, with an estimated $3-6B in Tokenized Real Estate assets (or in this case loans) currently under management. Perhaps TRE-Own and TRE-Loan aren't as comparable as initially perceived, but that's a topic for another time. Here's a breakdown of the conservatively estimated Tokenized Real Estate Valuations of each TRE-Loan company.
Here's last week's TRE Valuation as a comparison. (previously referred to as AUM)
As you can see, the TRE-Loan projects are measured in billions, and TRE-Own projects are measured in millions - again showing the vast significance of the Provenance (Figure) in this space.
Landlord’s Corner
Collecting rent while out of town has officially become a burden. I've allowed renters to pay cash for a while now, and that may need to change. I've waived the late payment fee this time since I wasn't around to collect rent in person, but moving forward I'll make it clear that I expect renters to be able to pay via bank transfer (or better yet Bitcoin!).
This week’s developments reveal that the RWA transition isn’t theoretical — it’s architectural. Tokenized real estate now spans luxury assets, regulated exchanges, and everyday housing transactions. Trump Tower Dubai brings attention, OSL and Solana bring compliance, and Opendoor brings usability. The message is clear: the blockchain real estate stack is taking shape — from issuance to payment, regulation to retail.
Let’s grow this space together
Share with colleagues, investors, and others curious about tokenized real estate.
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