Brickken, a leading Web3 platform recognized for its user-friendly RWA tokenization experience, has been chosen to take part in the European Blockchain Sandbox.
Tokenization is a significant trend in the Web3 industry that is gaining popularity among traditional players like BlackRock and JPMorgan. This technology enables the representation of traditional assets such as securities, real estate, and art pieces on blockchain, offering a modern approach to securing property and intellectual rights.
The global tokenization market is projected to reach a value of $16 trillion by 2030. However, there are several challenges that could impede the industry’s growth. The fragmented nature of the blockchain ecosystem creates obstacles to seamless token transfers and data sharing.
The lack of interoperability complicates the transfer of tokenized assets across different platforms, resulting in inefficiencies and increased costs. The technical complexity involved in tokenizing assets may also deter new users. Furthermore, the regulatory landscape is still evolving, with many countries lacking clear guidelines, posing legal risks and hindering widespread adoption.
To address these challenges and promote the mainstream acceptance of tokenization in the financial and real estate sectors, Brickken has joined the European Blockchain and Distributed Ledger Technologies (DLT) Regulatory Sandbox. This program, curated by the European Commission, aims to enhance the regulatory environment for blockchain technologies by creating a secure space for public and private institutions to exchange expertise and best practices.
By participating in this program alongside cryptocurrency exchange Coinbase, Brickken aims to contribute its expertise in tokenization and assist regulators in gaining a deeper understanding of blockchain technologies. This collaboration will also allow Brickken to enhance its solutions, improve operational efficiency, and explore new markets.
Brickken specializes in tokenizing financial instruments such as debt and equity but can be utilized for tokenizing various asset types. Users can tokenize RWAs in minutes without coding, ensuring regulatory compliance. The platform offers customizable investment portals with real-time insights, connecting users with legal, financial, and marketing experts through a marketplace.
CEO and co-founder Edwin Mata believes that equity, bonds, and financial instruments will drive the RWA space as institutional players like BlackRock enter the market. By working closely with regulators and industry leaders, Brickken aims to build a stronger and more reliable ecosystem.
As a participant in the European Blockchain Sandbox, Brickken has tokenized real-world assets worth over $200 million across 14 countries. The platform integrates with major blockchains like Ethereum, Base, Avalanche, and BNB Chain, and has partnered with industry leaders such as PwC, Chainlink, Hacken, and Ava Labs.
Brickken is currently involved in PwC’s Scale Digital Assets and Tokenization Program and is developing an MPC wallet. Its 2024 roadmap includes a tokenized credit card, bank transfer options, and an over-the-counter (OTC) module for cross-border transactions.
With a focus on regulatory compliance and technological innovation, Brickken is a standout player in the tokenization space. Its participation in the European Blockchain Sandbox positions it well to achieve its goal of delivering a compliant and advanced tokenization platform.