OFA Group awarded $15M contract for RWA tokenization services

OFA Group (OFAL) announced the execution of a real world asset, or RWA, tokenization service agreement through its proprietary Hearth RWA Tokenization Platform with MD Queens Development for a mixed-use development project in Long Island City, New York, with an estimated stabilized value of approximately $1B. Under the terms of the agreement, OFA Group will provide end-to-end blockchain-based tokenization infrastructure for the project and will receive a total platform technology fee of $15M. “This agreement reflects continued progress in the adoption of blockchain infrastructure for real-world assets. We are pleased to support a project of this scale and to demonstrate how our Hearth platform can deliver secure, compliant, and scalable tokenization solutions for institutional-grade developments,” said Larry Wong, CEO of OFA Group.