MultiBank Group’s Digital Asset Initiative with Fireblocks

MultiBank Group’s digital asset division has partnered with Fireblocks to bring $10 billion in real estate on-chain.

Summary

• MultiBank.io launched a real estate tokenization platform.
• Fireblocks will provide custody and Mavryk blockchain infrastructure.
• Platform aims to tokenize $10B in real estate assets.

Companies are increasingly competing to dominate real-world assets. On Wednesday, July 23, MultiBank.io, the digital asset division of MultiBank Group, announced its partnership with institutional crypto custodian Fireblocks.

Together with blockchain infrastructure provider Mavryk, these firms intend to tokenize $10 billion in assets, primarily focusing on high-value properties accessible to a diverse range of investors.

Regulated Marketplace

The new platform will operate a regulated real-world assets (RWA) marketplace that allows investors to purchase real estate properties fractionally, utilizing both fiat and cryptocurrency. Fireblocks will manage the secure custody of these RWA tokens.

The entire platform will run on Mavryk’s blockchain infrastructure, incorporating a smart contract layer and a decentralized ledger. Mavryk will also oversee KYC/AML checks and integrations with other DeFi protocols, in addition to ensuring programmable logic.

Multibank’s $3B Partnership

The first phase builds on MultiBank.io’s $3 billion partnership with MAG Lifestyle Development, featuring projects like Ritz-Carlton Residences and Keturah Reserve. Zak Taher, founder and CEO of MultiBank.io, explained that the platform aims to target up to $10 billion in on-chain assets.

> “Tokenizing RWAs at scale demands robust infrastructure, uncompromising security, and strict adherence to industry standards. Fireblocks is the custody backbone behind our operations, while Mavryk’s blockchain brings speed and efficiency. Together, we’re opening $10 billion in property investment to a wider audience with full transparency,” said Zak Taher of MultiBank.io.

MultiBank.io also recently launched its own crypto token, MBG, on several exchanges, including MexC, Gate.io, and Uniswap. Following this, the token saw a brief increase in value, surging to $1.

The interest in the MBG token indicates a growing interest in RWA assets, which are currently among the fastest-growing segments of the crypto market.

Read more: MultiBank’s MBG token is live on MexC, Gate.io, and Uniswap after presale sells out.