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Wednesday, July 24, 2024

GIFT City Poised to Introduce India’s First Regulated Global Realty and Infrastructure Asset Tokenisation Platform

GIFT City is set to pioneer India’s inaugural regulated real estate and infrastructure asset tokenisation platform, leveraging blockchain technology. This innovative platform aims to democratize investments in the sector, enabling small investors to gain fractional ownership in real estate and infrastructure projects through asset tokens while enhancing liquidity for global asset owners.

The International Financial Services Centres Authority (IFSCA), headquartered at GIFT City and mandated with regulating and fostering international financial services centers in India, has conditionally approved several entities to establish such a platform. Among them is Realdom India Pvt Ltd, a Startup India registered entity and a member of Nasscom’s T-AIM initiative.

Realdom is currently undergoing regulatory innovation through a Sandbox process to establish its platform, Pinvest Exchange. Tushar Deochakke, founder of Pinvest Exchange, emphasized the platform’s role in bridging the gap between investors seeking growth opportunities and asset owners in need of capital.

Assets undergo thorough due diligence, credit rating, and independent valuation by chartered valuers before being onboarded onto the tokenisation platform for investment and trading. Tokens representing these assets are issued to investors and managed independently by custodians.

An asset tokenisation committee is working on formulating recommendations to the regulator for the creation of new financial instruments. The integration of blockchain technology ensures enhanced security features and benefits for all stakeholders, including asset owners, developers, investors, and buyers across various categories.

Globally, real estate and infrastructure sectors attract substantial institutional capital and drive employment across multiple sectors. Despite this, their participation in the public market remains disproportionately low. Unlike equity, commodities, and other sectors, real estate and infrastructure lack an independent marketplace.

GIFT City has emerged as a burgeoning financial hub, attracting major entities in the global fintech sector. With over 500 entities, including aircraft and ship leasing, fintech companies, banks, funds, and stock exchanges, GIFT City has established itself as a thriving ecosystem. It hosts renowned technology firms such as Google, IBM, and Oracle, along with numerous fintech companies, international stock exchanges, and alternative investment funds. Additionally, it houses India’s first bullion exchange with a significant presence of qualified jewelers onboard.

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