Mark Weaden
Blockchain real estate platform Blocksquare has formed a strategic partnership with Florida-based Vera Capital to tokenize more than $1 billion worth of U.S. commercial real estate properties.
Announced on April 18, the collaboration will enable global investors to purchase fractional ownership in a diverse portfolio of properties spanning seven states. The initiative includes plans to launch a dedicated marketplace in the coming weeks, where users can acquire tokenized shares in dozens of commercial properties.
The partnership represents one of the largest blockchain-based real estate tokenization projects announced to date, potentially transforming how investors can access commercial property investments.
South Florida Properties Lead Initial Tokenization Wave
The first properties to be tokenized under this initiative include a three-story office building in Fort Lauderdale and a retail plaza in Dania Beach, both currently owned by Vera Group.
"All our assets are already within the group. They are purchased, managed, and improved by us," explained Vera Group CEO Nick Polyushkin.
Vera Capital functions as the investment division of Vera Group, which encompasses a South Florida real estate agency, property management operations, and a development fund managing over $100 million in active investments.
Polyushkin noted that the $1 billion tokenization target is derived from Vera Group's roadmap for existing assets and planned development projects. Upcoming offerings include two residential unit complexes, each valued between $70 and $100 million.
While acknowledging the ambitious scale, Polyushkin expressed confidence in their targets: "These are ambitious numbers if you're thinking in terms of residential investing, but from a commercial real estate perspective, this is very realistic—and not just achievable, but over-achievable."
Blocksquare, operating on the Ethereum blockchain, has already facilitated tokenization for approximately 150 properties across 28 countries, with a collective value exceeding $145 million. In February 2025, the company introduced an EU-compliant framework designed to help property owners tokenize economic rights linked to real estate through notarized agreements.
Regulatory Innovation Supports Cross-Border Tokenization Efforts
Blocksquare CEO Denis Petrovic revealed that the company is evaluating whether its Luxembourg-established legal framework can be effectively applied to U.S. market operations.
"There's always the option of issuing tokens directly without involving the Luxembourg entity, but having it in place adds a layer of flexibility and legal assurance for a U.S.-based marketplace like Vera," Petrovic explained.
The partnership emerges amid growing momentum in the asset tokenization sector. McKinsey & Company recently reported that tokenized financial assets, despite experiencing a "cold start," are projected to grow into a $2 trillion market by 2030.
More optimistic projections from the Global Financial Markets Association (GFMA) and Boston Consulting Group suggest global tokenized illiquid assets could reach $16 trillion by 2030. Even Citigroup's conservative estimates indicate $4-5 trillion worth of tokenized digital securities could be created by the same year.
Recognizing this expanding opportunity, major financial institutions are making strategic moves in the tokenization space. Goldman Sachs, for example, plans to introduce three new tokenization products later this year in response to increasing client interest in blockchain-based asset ownership.
