European fund manager APS bought $3.4 million in tokenized real estate via MetaWealth, marking the first direct institutional purchase of retail-available tokenized assets.
Pan-European fund manager APS became the first institutional investor to directly acquire tokenized real estate assets through MetaWealth’s blockchain-based investment platform, according to an announcement shared with Cointelegraph.
APS, which manages over 12 billion euros ($13.7 billion) in assets, purchased 3 million euros ($3.4 million) in tokenized bonds tied to two Italian residential properties listed on MetaWealth: Fo.Ro Living Rome and Porta Pamphili Rome. Each tranche was split evenly at 1.5 million euros.
APS acquired the same tokenized assets that are available to retail investors. The bonds were transacted and recorded on the blockchain, which adds transparency and programmability to the process.
