Oct. 26 (CandyPulse) — Buying a slice of an office building with a token could soon be legal and regulated in Latvia. The country's economics minister, Viktors Valainis, says rules for tokenizing real-world assets could be ready in the first half of 2027, with commercial property first in line.
Key takeaways
| Detail | Status |
|---|---|
| Target date | First half of 2027, if work goes smoothly |
| First assets | Commercial property, then government bonds |
| Working with | Central bank, Finance Ministry and industry |
| Legal assessment | Due Oct. 1, 2026; still in progress |
| Draft law published? | Not yet |
The minister also expects the project to stay on the agenda of the next government, which is now being formed.
Tokenization turns ownership of an asset, such as a building, into digital tokens on a blockchain. Instead of one buyer purchasing a whole office block, many investors could each own a small share, trade it more easily and settle faster. Clear rules are what turn that idea into something banks and investors can trust.
Separately, Latvia's parliament passed a crypto tax overhaul on Oct. 15, with a one-time declaration window from April 1 to May 31, 2027.
Europe already has MiCA for crypto firms, but tokenized real-world assets still sit in a grey area in many countries. Latvia moving early could make it a testing ground. Real estate tokenization is also on the CANDY roadmap: Candy RWA plans to tokenize rewards first, then real estate. Read CANDY RWA rewards and the road to real estate.
More context: Goldman, Wells Fargo and Morgan Stanley's tokenization push and why big companies are pushing back on tokenized stocks.
Watch for a draft law and the next government's commitment to the timeline. More on our Tokenization & RWA page.
Disclaimer: This article is for information only and is not financial advice. Crypto assets are volatile and can lose value. Always do your own research before making any investment decision.
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