Introduction
Latin America and the Caribbean (LAC) have emerged as one of the most dynamic regions in the world for blockchain adoption. While cryptocurrencies first captured attention across the region, it is now the tokenization of real-world assets (RWA)—especially in real estate—that is making headlines. From large-scale deals and innovative pilots to regulatory milestones and new platforms, momentum is clearly building.
As the FIBREE Product Database prepares for its official online release on October 16, it is timely to explore how recent developments in LAC demonstrate both the promise and the challenges of applying blockchain in the built environment. Click here to register for this online release event on the 16th of October, starting at 4:30pm CET.
1. Momentum in Tokenized Real Estate Deals
Several landmark deals in the past year have put Latin America firmly on the global tokenization map.
Reental expands across Latin America
One of the clearest movement examples comes from Reental, a tokenized real estate investment platform originally based in Spain. In September 2024, Reental announced it was entering multiple Latin American markets, including Mexico, Argentina, and the Dominican Republic. In Argentina specifically, Reental launched the Salta-1 project in collaboration with local developer MDay Group. The offering gives investors fractional access to commercial real estate opportunities in Salta, targeting a 12-month return.
Mercado Bitcoin & Polygon Labs partnership
Brazil’s Mercado Bitcoin, one of the largest crypto exchanges in the region, partnered with Polygon Labs to scale tokenized RWA offerings. Their initiative positions Brazil as a central hub for regulated blockchain-based asset issuance in Latin America.
El Salvador’s pioneering tokenized debt issuance
In 2024, El Salvador made global headlines with its first tokenized debt instrument to finance a Hilton hotel development—launched via Bitfinex Securities. This not only demonstrated how governments can leverage blockchain for development finance but also marked a precedent for sovereign-level adoption of tokenization in LAC.
These deals reflect a broader regional trend: real estate tokenization is no longer experimental but increasingly institutional.
2. Regulatory Developments Shaping the Market
Policy and regulation remain decisive factors in the success of tokenization initiatives. While the region is not homogeneous in regulatory progress, certain country-level signals provide context:
Brazil’s central bank governor has publicly stated that Brazil is moving toward a “tokenized economy,” signaling institutional recognition of digital assets as part of the financial future. Following this statement, Brazil’s Central Bank came recently with new regulatory frameworks for crypto assets and tokenized products and continues to improve shaping regulatory clarity. This adds further legitimacy to projects like Mercado Bitcoin’s tokenization initiatives. In Brazil, the real estate tokenization exchange is leveraging existing regulatory structures for developers and real estate agents (e.g. via COFECI, the federal real estate council).
Mexico continues to refine its legal framework for digital assets, signaling opportunities for compliant tokenization platforms to scale.
Argentina, despite its volatile macroeconomic conditions, has seen legal commentary and early pilots around blockchain applications in property and escrow, paving the way for future adoption once capital controls stabilize. The current political situation gives clear tailwind to new market developments in this realm.
Together, these steps are gradually reducing regulatory uncertainty—one of the largest obstacles to institutional capital entering the tokenization space. These signals and institutional alignments may significantly support scaling tokenized real estate in LATAM.
3. Brazil Launches First Tokenized Real Estate Exchange
A landmark development in Brazil: Netspaces and CF Inovação formed a joint venture to launch what is being described as the world’s first tokenized real estate exchange (bolsa imobiliária tokenizada).
This exchange is slated to go live on June 6, 2025, during the Blockchain Real Estate Summit in São Paulo. Initially, it will involve 100 incorporadoras (developers) and 10,000 real estate agents (corretores), with 100 tokenized projects available in its first phase.
The platform is being built on blockchain technology to support negotiation and settlement of real estate tokens.
In addition, in October 2023, Brazilian real estate financing via tokenization was already being experimented with: Amfi and Netspaces collaborated in a real estate financing project where investors acquired tokenized interests in properties.
These moves mark Brazil as a focal point for regulated, platform-based real estate tokenization in Latin America.
4. Global Forecasts and Their Relevance to LATAM
Beyond LATAM-specific developments, global market forecasts help frame expectations and rationale:
According to Deloitte, the global real estate tokenization market could grow from under USD 300 billion in 2024 to USD 4 trillion by 2035—an annual growth rate of ~27 %.
In its “Top-10 countries to launch a real estate tokenization platform in 2025” analysis, Antiér Solutions positions Brazil as the leading Latin American market for tokenization, citing regulatory pilots, hundreds of tokenized properties, and growing institutional confidence.
Such projections raise the stakes for Latin America: the region must move from pilot projects to scalable, regulated platforms if it is to claim a place in the trillion-dollar tokenization wave.
5. Challenges and Observations
While the documented developments are promising, the sources themselves hint at real constraints and open questions:
- Market readiness: The initial phase of the Brazilian token exchange will focus on properties “na planta” (off-plan developments) because they require less due diligence and are easier to tokenize under current rules.
- Adoption scale: The Brazilian exchange has committed to launching with 100 tokenized developments—an ambitious but limited start.
- Institutional alignment: The success of such platforms depends heavily on integration with local real estate norms, licensing authorities, and developer participation. The Brazilian model seems to take this into account by involving real estate agents and developers directly.
Because many Latin American markets have limited digital asset regulation or immature capital markets, achieving liquidity and cross-border integration will remain challenging.
Conclusion & Outlook
Latin American markets are no longer passive observers in the global real estate tokenization movement—they are becoming active experimenters. Reental’s expansion into Mexico and Argentina, coupled with Brazil’s launch of a tokenized real estate exchange, show that the region is moving from proofs-of-concept toward regulated infrastructure.
However, scaling beyond early adopters will require solution stability, regulatory clarity, investor trust, and interoperable standards—particularly if the region is to join the global tokenization growth curve forecasted by Deloitte and others.
As the global market expects real estate tokenization to reach trillions over the next decade, LATAM’s next moves will either be leapfrog or lag. The FIBREE Product Database release on October 16 (4:30pm CET) offers a timely platform to map these developments, compare regional initiatives, and galvanize collaboration between Latin American innovators and global actors. Curious? Makes sure you won’t miss it. Click here to register for this online release event.