By joining the EU program, the digital asset tokenization platform will help ensure legal clarity for blockchain technologies.
Participation in European Blockchain Sandbox
Brickken, a Web3 platform renowned for its user-friendly real-world asset (RWA) tokenization services, has been selected to participate in the European Blockchain Sandbox.
Tokenization, a growing trend in the Web3 space, is attracting attention from traditional players like BlackRock and JPMorgan. This technology enables traditional assets such as securities, real estate, and art to be carried onchain, providing a modern approach to securing property and intellectual rights through blockchain.
Market Potential and Challenges
The global tokenization market is projected to reach $16 trillion by 2030. However, several challenges could impede its growth. The blockchain ecosystem’s fragmentation creates barriers to seamless token transfers and data sharing. Limited interoperability complicates the transfer of tokenized assets across platforms, leading to inefficiencies and higher costs. Additionally, the technical complexity of tokenizing assets may deter novice users. The regulatory environment is also still evolving, with many countries lacking clear guidelines, creating legal risks and hindering widespread adoption. Overcoming these challenges is essential for the continued growth and acceptance of tokenization in the financial and real estate sectors.
Addressing Regulatory and Technical Challenges
Brickken is joining a program aimed at improving Europe’s regulatory landscape. As an all-in-one solution for launching, distributing, and managing digital assets for various companies and institutions, Brickken’s Digital Asset Suite addresses key industry issues and provides a comprehensive, regulatory-compliant platform for tokenizing RWAs.
In line with its mission to ensure legal compliance, Brickken is now a participant in the European Blockchain and Distributed Ledger Technologies (DLT) Regulatory Sandbox. Curated by the European Commission, this program aims to deliver legal certainty for blockchain technologies by fostering a secure environment where participants can offer advice and exchange best practices.
Collaborative Efforts and Development
Brickken will participate in the program alongside Coinbase. Together, they will share expertise in tokenization and guide regulators and supervisors to deepen their understanding of blockchain technologies. This collaboration will also allow Brickken to develop and optimize its solutions, improve operational efficiency, and pave the way for entering new markets.
Brickken specializes in financial instrument tokenization, such as debt and equity, but can tokenize all types of assets. Users can tokenize RWAs in under three minutes without coding, in a regulatory-compliant manner. The platform offers customizable investment portals with real-time insights, empowering users to manage their digital assets seamlessly. It also features a marketplace connecting users with legal, financial, and marketing experts.
CEO’s Perspective and Future Plans
Brickken CEO and co-founder Edwin Mata believes that equity, bonds, and financial instruments will drive the RWA space as prominent institutions like BlackRock get involved. “This is a great opportunity to work closely with regulators and other industry leaders to build a stronger and more reliable ecosystem,” Mata said.
Achievements and Roadmap
Brickken has tokenized over $200 million worth of real-world assets across 14 countries. The platform integrates with prominent blockchains like Ethereum, Base, Avalanche, and BNB Chain, and has partnered with industry giants such as PwC, Chainlink, Hacken, and Ava Labs.
Recently, Brickken joined PwC’s Scale Digital Assets and Tokenization Program. The startup is currently developing an MPC wallet, with plans for a tokenized credit card, bank transfer options, and an over-the-counter (OTC) module for cross-border transactions in 2024.
Focusing on regulatory compliance and technological capabilities, Brickken is positioned to achieve its mission of delivering a compliant and advanced tokenization platform as a participant in the European Blockchain Sandbox.
