Brazil’s tokenized real estate market has expanded in recent years, yet it still operates in a legal gray area with no clear framework, according to Valor. The report says many models depend on creative legal interpretations rather than direct, token based property ownership.
Deloitte estimates the global value of tokenized real estate will reach $4 trillion by 2035, up from $300 billion in 2024. In Brazil, the Central Bank’s Drex pilot includes a case study where property titles and currency are tokenized to enable delivery versus payment, reducing intermediaries pending regulatory support. Participants include Banco do Brasil, Caixa, Elo, credit union groups, and registry operator ONR, and they said they simulated a sale financed through different banks.
Lawyers cited by Valor said holding a token does not mean owning the property, since registry rules still require ownership to be transcribed at the local registry office, often via a notary. With Cofeci forming a blockchain task force in December 2024 and firms using structures such as multiproperty and CVM Resolution 88 compatible platforms, the next watch item is whether Drex rollout and registry integration deliver the legal certainty needed to scale.
Source: Valor International.
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