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Lava Network signs its first RWA authorization project, planning to design a tokenized sandbox for 40k households in the Caribbean.

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ME News Report, June 11 (UTC+8), the blockchain infrastructure protocol Lava Network signed a non-binding memorandum of understanding with developer BHL Group to design a tokenized regulatory sandbox for the planned Caribbean residential development project Alba Bay. The project plans over 40k residential units, covering nearly 40 million square meters, with a cost of billions of dollars, and is scheduled to break ground in the first quarter of 2027. Lava states this is its first real-world asset authorization project. Currently, no units have been tokenized, nor has any infrastructure been deployed, and BHL is not required to pay any upfront fees to Lava. Lava’s role is to support ecosystem promotion, coordinate native crypto team applications, and participate in sandbox design, with commercial terms based on usage fees, without fixed costs, equity, or token grants. According to CoinGecko data, the LAVA token has fallen over 90% from its 2024 high, with a market cap of about $9 million. Lava states that the tokenization structure has not yet been determined, and any tokens will supplement rather than replace existing property registration; whether the project can advance to the tokenization stage depends on subsequent assessments. (Source: ChainCatcher)
LAVA2.60%
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