PRYPCO expands its real estate tokenization experience to Georgia

PRYPCO, the UAE-based PropTech and real estate tokenization platform, licensed in the UAE by Dubai’s Virtual Asset Regulatory Authority has expanded its operations to Georgia. Prypco recently signed a Memorandum of Understanding (MoU) with the country of Georgia and specifically the Ministry of Justice to develop the real estate tokenization framework in the country.

The MoU was signed in the presence of H.E. Irakli Kobakhidze, Prime Minister of Georgia, and H.E. Paata Salia, Minister of Justice of Georgia, alongside their delegation, and PRYPCO’s Founder and CEO, Amira Sajwani, together with the PRYPCO leadership team.

The two parties will work to explore, develop and implement innovative real estate tokenization initiative which will modernize the real estate process, increase investor confidence and position Georgia as a progressive, friendly jurisdiction for digital investment and next generation property infrastructure.

PRYPCO and the Ministry of Justice in Georgia under an public-private partnership, will develop the legalities, regularity clarity, for a secure transparent and compliant tokenization platform in accordance with Georgian laws and regulations.

Commenting on the signing, Amira Sajwani, Founder and CEO of PRYPCO, said that the agreement is a reflection of a shared belief that the future of real estate lies in trust, transparency and technology enabled access. She notes that the groundwork is being build for a compliant real estate tokenization, unlocking opportunities for global participation.

She adds, “Georgia’s openness to innovation and its forward-looking policy mindset make it a natural partner as PRYPCO continues to expand its international government collaboration strategy.”

His Excellency Paata Salia, Minister of Justice, Georgia added, “This cooperation with PRYPCO represents an important step in Georgia’s efforts to modernize its real estate and legal infrastructure. Public-private partnerships of this nature are essential to ensuring that technological innovation develops in line with the rule of law and international best practices.”

PRYPCO has already implemented the real estate tokenization platform in the UAE, with Dubai Land Department, Dubai’s Virtual Asset Regulatory Authority, as well as CtrlAlt the tokenization blockchain infrastructure provider.

After the fund raising for PRYPCO which was aimed for expansion purposes, this is the first deal outside of the UAE.