$52M property in Canada tokenised on Polymesh by Ocree

Ocree Capital has introduced a regulated real estate platform in Canada, enabling investors to acquire tokenised shares of commercial properties through the Polymesh (CRYPTO:POLYX) blockchain.

The platform launched on March 24 with a $51.9 million listing of a 156-unit Class “A” multi-residential property in Winnipeg, Manitoba.

Ocree is offering $4 million in equity to investors through fractional shares.

“Investors are not providing debt; they are participating in the equity of the asset. The investors purchase an interest in a limited partnership that invests in the underlying property,” said Ocree CEO Ted Davis.

The tokenisation of the property was conducted entirely on Polymesh, a blockchain designed for real-world assets.

Last year, Polymesh was also used to tokenise a $2.5 million church in Colorado.

Davis noted that the platform benefits both property owners seeking liquidity and investors looking for real estate opportunities.

Ocree, registered with the Ontario Securities Commission, holds licenses in all Canadian provinces and territories except Quebec.

The registration process took about a year to complete.

The tokenisation of real-world assets has gained traction, with major financial institutions such as JPMorgan Chase, UBS, and BlackRock exploring tokenised products.

In Canada, firms like Atlas One and Taurus have developed institutional-grade platforms for tokenised assets.

Matthew Burgoyne, a partner at Canadian law firm Osler, highlighted tokenisation’s potential to streamline financial transactions.

“The distributed and transparent nature of token-underpinned ledgers facilitates near-instant settlement at a reduced cost compared to traditional finance,” he wrote.

According to RWA.xyz, the total on-chain value of tokenised real-world assets, excluding stablecoins, has reached $31.3 billion, marking a 94% increase over the past 30 days.

Industry research suggests the market could grow into the trillions by 2030.

At the time of reporting, the Polymesh (POLYX) price was $0.1553.