Imagine being able to own a fraction of a commercial tower in Dubai or shares of a tech company in Germany with just a few hundred thousand tomans—without the hassle of complex contracts or the high costs of traditional investment. Thanks to blockchain technology, this vision is no longer science fiction. It’s becoming reality through the phenomenon of asset tokenization.
Tokenization enables the division, purchase, and trade of virtually any asset in the form of digital tokens. In advanced markets, everything from real estate and artworks to corporate revenue streams and future contracts is being tokenized.
Globally, this is no longer a pilot idea but a fast-emerging financial structure:
United States: Platforms like RealT have already tokenized hundreds of residential properties, opening real estate investment with as little as $50.
Japan: The tokenized asset market reached $148 million by 2025, with 85% tied to real estate.
Thailand: A $70 million office complex in Bangkok has been tokenized.
India: The Oryx project in GIFT City is underway.
Europe: Platforms like MetaWealth have attracted institutional investors, even launching the first tokenized real estate funds.
Middle East: In Dubai, Tokinvest has received a license from VARA, the local regulator, to officially operate tokenized real estate markets.
Singapore: OCBC Bank has launched a $1 billion blockchain-based commercial paper program.
Global Banks: Giants such as HSBC, Bank of America, and Euroclear are moving toward tokenizing securities via the Solana blockchain in collaboration with R3.
Retail Finance: Robinhood and Coinbase have begun offering tokenized stocks and ETFs with 24/7 trading—though regulatory challenges remain.
Meanwhile, Iran’s capital market continues to struggle with chronic issues: low liquidity, limited financial instruments, and growing distrust among retail investors. Could tokenization be the way out?
Imagine if Justice Shares (سهام عدالت) were fractionalized into blockchain-based tokens. It would simplify public access to trading, increase transparency, and strengthen trust in the system.
Of course, serious challenges remain:
Legal ambiguity: Does Iran’s legal framework even recognize digital ownership? How would courts handle disputes?
Cybersecurity risks: Without secure infrastructure and strong supervision, tokenized markets could be exposed to hacks and misuse.
Institutional resistance: As history shows, many traditional financial institutions in Iran are wary—or even hostile—towards disruptive innovation.
And yet, the opportunities are too significant to ignore. Tokenization could revolutionize financing for startups and knowledge-based companies whose intangible assets—like data or brand equity—are often undervalued in traditional markets. It could also provide unprecedented transparency, which Iran’s stock exchange badly needs to rebuild public trust. Moreover, if properly designed, tokenized platforms could attract investment from the Iranian diaspora and even international investors—critical for Iran’s economic resilience.
The real question is not if Iran should embrace tokenization, but how fast and under what model. The smartest path forward may be controlled pilot projects—for example, tokenizing a portion of an investment fund or a state-owned asset. Such initiatives could help regulators and market players test the waters, understand risks, and build the foundation for broader adoption.
Iran’s capital market urgently needs reinvention. The digital tide is coming—whether we like it or not. If policymakers choose foresight over delay, Iran could move beyond its current gridlocks and even emerge as a regional leader in the digital economy.
📰 This article was originally published in Donya-e-Eqtesad newspaper (Issue No. 6374, September 9, 2025). You can read it here: Donya-e-Eqtesad – Tokenization Article
