Odaily Planet Daily reports that stablecoin issuer Tether has announced that its asset tokenization platform, Hadron, will provide real estate asset tokenization technology to institutional investors in Saudi Arabia, enabling the blockchain integration of traditional real estate assets.
Tether stated that it will collaborate with local Saudi partner First Data and fintech company BKN301 to provide institutional clients with issuance, management, and digital infrastructure support for real estate assets. In the future, this model may be expanded to additional real-world assets (RWA), such as energy and infrastructure financing.
This move represents Tether’s latest expansion from its stablecoin business into the field of real-world asset tokenization. Tether launched the Hadron platform in 2024 to streamline the asset tokenization process and is currently one of the world’s largest issuers of gold-backed tokens, with its gold token XAUT reaching approximately $2.6 billion in market value.
In recent years, banks and asset management institutions have been exploring the tokenization of traditional assets such as money market funds, private credit, real estate, and equities on blockchain to enhance settlement efficiency, expand investor reach, and optimize capital utilization. Citibank previously predicted that the tokenized securities market could reach $5.5 trillion by 2030.
Saudi Arabia is actively exploring the application of blockchain technology in areas such as financial services, government, and supply chains as part of its Vision 2030 strategy to diversify the economy.
Tether CEO Paolo Ardoino said that Saudi Arabia is an ideal market to showcase the value of the Hadron platform, thanks to the digital transformation opportunities brought by its 2030 vision. (CoinDesk)