RealNOI Launches Blockchain Platform for $570 Million Rental Income Tokenization
RealNOI has launched a blockchain-based rental income platform utilizing Chintai's RWA tokenization service. Key details include:
- The platform offers access to $570 million in cash flows from approximately 1,900 apartments.
- Projected annual returns exceed 5%.
- Focuses on rental income rather than property ownership, removing the need for title transfers and direct management.
- Rental cash flows are recorded on-chain for transparency and can be traded on secondary markets.
- Initial projections were $124 million at partnership announcement with Chintai in December.
Connor Gallic, chief blockchain officer, noted that 40% of multi-family property owners face refinancing challenges due to high interest rates affecting valuations. Tokenizing rental cash flows may address these capital needs.
Chintai, described as "Shopify" for asset tokenization, operates under regulations by the Monetary Authority of Singapore (MAS). RealNOI curates properties while Chintai manages tokenization and compliance processes through RentStream tokens.
A Chintai spokesperson mentioned the potential for this model to expand across various industries.