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Re.al launches blockchain platform for RWAs, CEO comments on tokenization

source-logo  crypto.news 20 May 2024 17:22, UTC

Re.al has officially rolled out its mainnet, launching a new blockchain platform aimed at managing real-world assets such as properties and commodities and promises to return all profits to the users.

Running on Arbitrum (ARB) Orbit and powered by Gelato’s Rollup-as-a-Service, re.al has made a strong start with $40 million already locked in and 190 properties ready for tokenization.

The platform aims to address persistent issues in decentralized finance (defi) by making assets more accessible for trading, improving interoperability, and ensuring fluidity.

“Its speed, flexibility, and security are exactly what we need to nurture an ecosystem centered around tokenizing real-world assets,” said Jag Singh, re.al’s CEO, explaining why they chose Arbitrum Orbit.

From the start, re.al offers users a range of tokenized assets including real estate and Treasury Bills. Singh has introduced an innovative solution called Basket tokens, which bundle individual properties into a single, more liquid ERC-20 token. The clever approach tackles common liquidity problems and simplifies the management and integration of these assets into other financial systems.

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Initial offerings and innovations

“Decentralized finance aims to democratize financial services, eliminating the need for traditional intermediaries. By weaving real-world assets into the Arbitrum ecosystem, re.al is making this vision a reality,” Peter Haymond from Offchain Labs pointed out, emphasizing the broader vision.

“Re.al is merging sophisticated blockchain technology with practical web services. This fusion is poised to accelerate the adoption of real-world asset apps and could significantly transform the blockchain landscape,” Hilmar Orth, founder of Gelato, expressed his enthusiasm about the platform’s potential.

Re.al is collaborating with Gelato RaaS and other partners, such as LayerZero and RedStone Oracles, to enhance the capabilities and reach of its app ecosystem. The partnership boosts the platform’s functionality and secures a broader impact within the blockchain community.

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