Tokenization will be conducted on an EVM-compatible blockchain in advance of the planned launch of REAL Finance’s purpose-built Layer 1 mainnet. The transaction serves as a live pilot to validate the end-to-end process.
The agreement is with Factori AD, an EU-regulated investment broker, which will channel client assets through REAL’s infrastructure. Factori AD will handle OTC securities execution and maintain segregated custody arrangements, with international assets held at Bank of New York and Bulgarian securities at the Central Depository in Bulgaria. Factori performs all client onboarding, KYC, and AML compliance.
REAL Finance’s Securities Tokenization Framework
The model focuses exclusively on real securities—including public shares and derivatives, private market shares, and both public and private bonds—rather than synthetic exposures. By operating as infrastructure, REAL Finance leaves regulatory responsibilities for the underlying securities with the licensed broker and issuers, while providing the on-chain settlement, risk visibility, and composability layer.
Pilot Transaction
The initial pilot involves equity derivatives of Alpha Bulgaria AD, specifically 5,000,000 warrants currently valued at approximately €2.75 each. With the agreement signed, the securities have been designated for tokenization through REAL’s engine under Factori’s licensed transfer-agent and custody model.
This transaction is structured to test the full workflow: sourcing of a real instrument, licensed OTC execution, regulated custody, and on-chain tokenization.
Path to Scale
The Alpha Bulgaria pilot represents the first tranche of a larger flow. Factori AD has committed to directing more than $100 million in additional client assets for tokenization via REAL’s infrastructure. Executing the pilot on EVM-compatible rails prior to mainnet is intended to establish validated processes and a track record of institutional execution.
Leadership Comments
“Signing this agreement demonstrates that REAL’s tokenization capabilities are operational and under contract with real securities and a regulated broker. The pilot allows us to validate the full model before we scale to service our multi-nine-figure committed assets pipeline.” — Ivo Grigorov, Chief Executive Officer, REAL Technologies
“We designed the architecture around licensed custody, full compliance, and genuine instruments. This first executed deal, together with the committed flow, confirms institutional demand for the infrastructure we are building.” — Valentin Dimitrov, Chief Operating Officer, REAL Technologies
About REAL Finance
REAL Finance is developing an EVM-compatible Layer 1 blockchain, purpose-built for the full lifecycle of real-world assets. This includes tokenization, risk visibility through dual business validators, on-chain insurance via its Decentralized Risk Framework, and DeFi composability. The platform is backed by Wiener Privatbank and is advancing multi-jurisdictional regulatory alignment ahead of mainnet.
About Alpha Bulgaria AD
Alpha Bulgaria AD is a publicly traded investment company listed on the Bulgarian Stock Exchange under the ticker ALFB. Headquartered in Sofia, the company operates a diversified investment portfolio spanning financial institutions, real estate, energy and renewables, and other sectors, with holdings that include majority stakes in financial-services entities and investments in industrial and ESG-oriented projects.
About Factori AD
Factori AD is a fully licensed, EU-regulated investment broker providing brokerage, OTC execution, custody, and investment advisory services, with securities custody relationships including the Bank of New York and the Central Depository in Bulgaria.
This announcement is for informational purposes only and does not constitute an offer to sell or a solicitation to buy any securities.
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