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<div class="cryptonews">
 <p class="is-style-lead">Real estate blockchain project Propy witnessed an 90% surge of its token’s value as Coinbase’s asset management arm is set to tokenize real world assets.</p>
 <p>On Dec. 13, 2023, Propy‘s PRO token surged a significant 93% within just one day after the U.S.-headquartered crypto exchange Coinbase announced plans to double down on real world assets tokenizing.</p>
 <p>According to CoinGecko data, PRO surpassed in a moment the $0.83 threshold, propelling the token’s market capitalization up to $40.7 million.</p>
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   <img decoding="async" width="919" height="410" src="https://cdn.thebittimes.com/images/2023/12/13/c09b79eabb6474555ff41201b0dd07f5.webp" alt="Real estate coin jumps 90% following Coinbase announcement to tokenize real world assets - 1"> 
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   PRO price in USD | Source: CoinGecko
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 <p>The raped increase of PRO’s value followed Coinbase’s announcement of its venture called Project Diamond, a platform for issuing and trading blockchain-based debt instruments.</p>
 <p>As crypto.news reported, the launch came amid intense competition to integrate traditional financial <a rel="noopener noreferrer nofollow" title="asset" href="https://thebittimes.com/tag/asset.html">asset</a>s like bonds and credit into blockchain systems. This process, known as the <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a>ization of real-<a rel="noopener noreferrer nofollow" title="world" href="https://thebittimes.com/tag/world.html">world</a> <a rel="noopener noreferrer nofollow" title="asset" href="https://thebittimes.com/tag/asset.html">asset</a>s (RWAs), is believed to enhance settlement speeds, reduce operational costs, and increase transparency.</p>
 <p>As of press time, Project Diamond is accessible only to registered institutional users outside the U.S.</p>
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  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Singapore’s Central Bank explores asset tokenization with major financial firms
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 <p>Even though Propy was not announced as a backbone for Coinbase’s latest initiative, the news itself was enough to trigger positive sentiment among PRO holders and pump the token’s price.</p>
 <p>As Propy appears to be following the same approach, the project’s whitepaper describes its mission is to automate the real estate transaction process by offering tokenization solutions based on smart contracts.</p>
 <p>According to <a rel="noopener noreferrer nofollow" title="asset" href="https://thebittimes.com/tag/asset.html">asset</a> management firm&nbsp;21.co, the market for <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a>ized RWAs is projected to reach $10 trillion by 2030.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> K33 Research: Chainlink is best asset that shows growing tokenization for RWA
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/real-estate-coin-jumps-90-following-coinbase-announcement-to-tokenize-real-world-assets-tbt73523.html">https://thebittimes.com/real-estate-coin-jumps-90-following-coinbase-announcement-to-tokenize-real-world-assets-tbt73523.html</a></p>

Real estate coin jumps 90% following Coinbase announcement to tokenize real world assets

TheBitTimes

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