Eric Trump, son of US President Donald Trump and co-founder of the decentralized finance protocol World Liberty Financial (WLFI), confirmed that he is working on a new project to tokenize real estate.
In an interview to be broadcast next week, Trump announced plans to tokenize a building currently under construction. The project reportedly would allow for public ownership of individual properties and allow transactions to be conducted on World Liberty Financial's blockchain infrastructure.
“We're currently implementing this model for a specific building I'm working on. I think the results will be incredible,” Trump said, adding that tokenization would expand the investor base and offer an alternative to traditional financing methods.
Eric Trump's statements come after WLFI's other co-founder, Zach Witkoff, hinted at plans to move the Trump real estate portfolio to blockchain at the Token2049 event in Singapore in early October.
Tokenization, the conversion of traditional assets like bonds, stocks, or real estate into tradable digital tokens, is a model increasingly embraced by both global banks and asset managers as a means of increasing liquidity and expanding investor access.
Trump stated that this system could create new opportunities, especially for his family's global supporter base, saying, “If I decide to build a hotel in Washington, Dubai or New York, why would I have to get funding from Deutsche Bank? Why not reach out to the public directly?”
Under the planned model, investors will be able to own a portion of the building for as little as $1,000, and will also receive additional benefits such as hotel privileges or special access.
While details about the project are still limited, Trump confirmed that the initiative will integrate with the World Liberty Financial ecosystem and its USD1 stablecoin. WLFI was founded last year with the goal of combining crypto infrastructure with traditional financial services.