Tokenization matters when the asset behind it already exists. REAL’s first pilot creates an on-chain representation of existing warrants issued by Alpha Bulgaria AD and listed on the Bulgarian Stock Exchange while preserving their connection to established securities infrastructure. Alongside the pilot, Factori AD acquired $ASSET through a private OTC swap to support its intended participation as a business validator. Factori is 83.65% owned by Alpha Bulgaria AD. Real securities meeting programmable financial rails, not synthetic exposure. Secondary trading has not commenced; this remains a controlled pilot. Real Value. On-chain.
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