Apex, Archax join Goldman Sachs tokenized real estate fund project

Apex Group is providing fund management services for a tokenized real estate fund whose shares are being issued on Goldman Sachs’ Digital Asset Platform, GS DAP.

The fund was developed with Goldman Sachs, digital asset exchange Archax, real estate investment manager LRC Group and interoperability provider Ownera, Apex said Thursday.

“Tokenization at institutional scale depends on trusted, regulated infrastructure,” Apex Group’s global head of digital assets, Agnes Mazurek, said, adding that its participation reflects growing demand from managers and investors for blockchain-native solutions.

The project reflects a growing push by banks, fund administrators and regulated digital asset companies to move real-world asset funds onchain while preserving familiar governance, investor servicing and regulatory oversight.

Tokenized units issued via GS DAP

The fund’s shares are issued as digital tokens using Goldman Sachs’ Digital Asset Platform (GS DAP), a blockchain-based platform facilitating the issuance, settlement, custody and transfer of digital assets.

Launched in 2022, GS DAP is built on top of the privacy-focused Canton Network and Digital Asset’s smart contract language DAML.

“Issuing blockchain native fund units on GS DAP enables investment in real estate assets with precision while unlocking more seamless transferability in the future,” said Mathew McDermott, Goldman Sachs’ global head of digital assets and a board member at Digital Asset.

Source: Apex Group

As part of the collaboration, LRC Group, a pan-European real estate investment company, manages the fund, while RWA-focused Archax exchange acts as custodian and the initial distribution partner.

Ownera, a connectivity network for tokenized assets, provides the interoperability layer that connects issuers, custodians and distribution channels.

Cointelegraph reached out to Apex Group for additional details on the fund but had not received a response by publication.

Related: RWA market hits $51B as tokenized private credits surges: Bernstein

The project adds real estate to a growing list of institutional tokenization efforts, including tokenized money-market funds, private funds and collateral networks.

Apex Group previously collaborated with US crypto exchange Coinbase to launch a tokenized Bitcoin (BTC) yield fund on the Base blockchain in March.

Other investment banks such as JPMorgan have also expanded tokenization infrastructure through Kinexys, which focuses on payments, collateral and asset tokenization.

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