Dubai made headlines in 2025 when it launched secondary trading for tokenized real estate. Singapore, Switzerland, and the UK have their own frameworks in motion. But the biggest real estate market in the world — the United States — has been notably quiet. That's changing, and faster than most people realize.

A wave of US-based platforms is now enabling fractional, tokenized ownership of real residential and commercial property. The regulatory groundwork is mostly in place. The technology is proven. What's left is adoption — and the early numbers suggest it's beginning.

"Tokenized real estate doesn't just make investing cheaper. It makes it possible for people who were previously locked out of the asset class entirely."

How It Works

Tokenizing a property means representing ownership rights as digital tokens on a blockchain. Each token corresponds to a fractional share of the underlying asset. Holders can earn proportional rental income, benefit from appreciation, and — on platforms that support secondary trading — sell their stake without waiting for the property to sell.

The legal structure varies by platform. Most US platforms use an LLC or series LLC model, where the property is held in an entity and tokens represent membership interests. This keeps the arrangement within existing securities law, typically as a Regulation A or Regulation D offering. Investors receive distributions, voting rights on major decisions, and transparent on-chain records of their holdings.

The Platforms Doing It Now

Arrived

Backed by Jeff Bezos and launched in 2021, Arrived focuses on single-family rental homes and vacation properties. Investors can buy shares in individual properties starting at $100. Rental income is distributed quarterly, and Arrived handles all property management. As of 2026, the platform has funded hundreds of properties across dozens of US markets.

RealT

RealT pioneered tokenized US real estate on Ethereum, focusing on Detroit and other Midwest markets. Properties are tokenized as ERC-20 tokens, rental income is distributed in USDC weekly, and tokens can be traded on secondary markets including the RealT marketplace and select DeFi protocols. RealT's model is the most crypto-native of the major platforms.

Lofty

Lofty operates on the Algorand blockchain and allows investors to buy fractional shares in rental properties for as little as $50. Daily rental income distributions and a built-in secondary market distinguish Lofty from most competitors. The platform has facilitated over $100 million in property transactions.

US Tokenized Real Estate at a Glance
  • Arrived — Single-family and vacation rentals, $100 minimum, quarterly income distributions
  • RealT — Ethereum-based, USDC income weekly, DeFi-compatible tokens
  • Lofty — Algorand, $50 minimum, daily income, built-in secondary market
  • Regulation — Most offerings structured as Reg A or Reg D securities; accredited investor requirements vary

The Opportunity — And the Honest Caveats

The bull case is straightforward: US real estate has historically delivered consistent returns, but access has required large capital, leverage, and hands-on management. Tokenization removes all three barriers. A retail investor in Kansas City can hold fractional interest in a Miami rental property and receive weekly income — something that was structurally impossible five years ago.

The caveats are equally real. Liquidity on secondary markets remains thin — this is not the same as owning a publicly traded REIT. Property-level risk is concentrated: if a single property has a vacancy or maintenance issue, token holders feel it directly. And the regulatory environment, while stable, is not finalized — the CLARITY Act and forthcoming SEC guidance on digital assets could reshape how these offerings are structured.

None of those caveats change the fundamental trajectory. Tokenized US real estate is here, it works, and it's growing. The question for investors isn't whether to pay attention — it's how to evaluate what they're looking at.

What to Look For Before Investing

The most important variable is the legal structure. Understand exactly what the token represents: equity in an LLC, a debt instrument, or something else entirely. Read the offering documents, not just the marketing page. Check whether the platform is registered with the SEC or operating under an exemption, and what that exemption means for your ability to sell.

Secondary market liquidity should be a key consideration. Some platforms have active secondary markets; others are effectively illiquid until the property is sold. If liquidity matters to you, prioritize platforms with demonstrated secondary trading volume.

Finally, look at the underlying property. Tokenization doesn't change the fundamentals of real estate investing — location, occupancy rates, cap rates, and management quality still determine returns. The blockchain is the delivery mechanism, not the investment thesis.

The US tokenized real estate market is early. The platforms are real, the returns are real, and the access is genuinely new. For investors who've been priced out of real estate or looking to diversify, it's worth a serious look.