PRYPCO, a UAE-based PropTech company, has announced its selection of Fireblocks as the strategic technology provider to build the digital asset infrastructure for its forthcoming real estate fractionalization platform. This partnership aims to enhance the security and accessibility of property investment in the region.
Securing the Future of Digital Real Estate
At the core of the collaboration is PRYPCO’s integration of Fireblocks’ enterprise-grade platform for managing digital asset operations. The platform will leverage Fireblocks’ Multi-Party Computation (MPC) wallets and its secure asset transfer network to provide a robust and protected environment for transactions involving tokenized real estate.
This infrastructure is designed to safeguard digital assets from potential threats while enabling PRYPCO to build a secure and scalable platform for its users to buy, sell, and manage fractional ownership of properties.
Democratizing Property Investment
PRYPCO’s vision is to lower the barrier to entry for real estate investment, a traditionally capital-intensive asset class. The new platform will allow users to purchase and trade fractions of properties using both traditional fiat currencies and stablecoins, increasing liquidity and opening up the market to a broader range of investors.
Amira Sajwani, Founder and CEO of PRYPCO, commented on the initiative, stating, “Our mission at PRYPCO is to democratize real estate, and by leveraging blockchain technology, we are not just talking about it; we are making it happen. Our platform will empower everyone to become a real estate owner, starting with a fraction.”
Sajwani added, “The decision to select Fireblocks was an easy one. Their industry-leading, bank-grade security and infrastructure is fundamental to our platform’s architecture and our commitment to our users.”
A Regulated Approach to Tokenization
Operating with a provisional license from Dubai’s Virtual Asset Regulatory Authority (VARA), PRYPCO is positioning itself within the regulated landscape of the UAE’s growing digital asset ecosystem. This regulatory alignment is crucial for building trust and ensuring compliance as the company ventures into the tokenization of real-world assets (RWA).
“The MENA region is leading the world in the adoption of RWA tokenization,” said Richard Astle, VP of Business Development, Fireblocks. “We are proud to be working with the PRYPCO team who are creating an innovative platform that will make it easy for anyone to invest in real estate. The team’s deep domain knowledge in the property market and their choice of Fireblocks’ battle-tested technology is a powerful combination for success.”
About PRYPCO
Founded by Amira Sajwani, PRYPCO is a UAE-based property technology company aiming to innovate the real estate sector. It seeks to simplify property ownership and management through technology, with a focus on creating a more accessible and liquid real estate market through fractionalization and tokenization.
About Fireblocks
Fireblocks is an enterprise platform to manage digital asset operations and build innovative businesses on the blockchain. The Fireblocks platform offers a secure infrastructure for moving, storing, and issuing digital assets, enabling exchanges, custodians, banks, and other financial institutions to securely scale their digital asset operations.
Source: Zawya
