RWA

Real-World Asset Tokenization

Real estate, agribusiness, commodities and infrastructure converted into yield-bearing tokens, with legal backing and an SPE structure.

  • CRI
  • CRA
  • FII
  • LCI

From physical asset to backed token

Tokenizing a real asset means giving it a digital representation with legal backing: the property, the farm or the infrastructure project stays in the physical world, while the economic rights structured over it circulate as a token, with compliance rules written into the contract itself.

Forward Factory structures that path end to end: setting up the vehicle (typically an SPE), choosing the right instrument, CRI, CRA, FII or LCI, issuing the token on the permissioned ERC-3643 standard, and controlling who can hold and move each unit.

The result is an asset that keeps the legal certainty of the traditional structure and gains the traceability, fractionability and programmability of on-chain rails.

The size of the opportunity

R$ 20 tn

Brazilian RWA market by 2030, from ~R$ 2.9 bn today

Source: Citi · Market estimates; they do not constitute an offer or a guarantee of results.

How it works

  1. 01

    Legal structuring

    Analysis of the asset and its backing, incorporation of the vehicle (SPE) and definition of the instrument and regulatory framing.

  2. 02

    Token issuance

    The structured asset is represented in a smart contract on the ERC-3643 standard, with compliance rules embedded in the token itself.

  3. 03

    Permissioned distribution

    Investors go through onboarding with KYC/AML; only whitelist-approved wallets can hold and move the token.

  4. 04

    Lifecycle

    Payments, amortizations and reports follow the token to maturity, with the flow recorded on-chain.

Instruments

The capital-markets instruments the RWA structure supports:

  • CRI

    Real Estate Receivables Certificate: a security backed by real estate credits, issued by a securitization company (Law 9,514/1997 and Law 14,430/2022).

  • CRA

    Agribusiness Receivables Certificate: a security backed by receivables from agribusiness chains (Law 11,076/2004).

  • FII

    Real Estate Investment Fund: a CVM-regulated vehicle (Res. 175) for portfolios of real estate assets.

  • LCI

    Real Estate Credit Note: a bank-issued security backed by real estate credit (Law 10,931/2004).

Regulatory framework

The rules that frame real-world asset tokenization in Brazil:

CVM Res. 88/2022
Investment crowdfunding: public offerings of up to R$ 40 million per issuer, under a simplified regime.
CVM Res. 175/2022
The investment-funds framework; the basis for FIIs and portfolios holding tokenized assets.
Law 14,430/2022
Brazil's securitization framework: governs securitization companies and receivables certificates.
ERC-3643 (T-REX)
Open permissioned-token standard: KYC, eligibility and limits enforced at the contract level.

References

Public references, cited by name. Citation does not imply registration, partnership, endorsement or an active offering.

Frequently asked questions

Notice

Forward Factory is an infrastructure platform for asset tokenization and does not provide investment advice, recommendations or counseling. The solutions described here do not constitute a public offering of securities. When a token represents a security, it observes the corresponding regulation, and the structuring of issuances adopts know-your-customer and anti-money-laundering (KYC/AML) procedures. Any offerings observe the applicable regulation of the Brazilian Securities and Exchange Commission (CVM), including CVM Resolutions No. 88 and No. 175. Past performance is no guarantee of future results; investments involve risk.

Shall we structure your asset?

Tell us the asset type and the estimated volume. We'll get back to you with the legal structure and the issuance path suited to your case.

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