Funds totaling $1.7 million have been secured by Hamilton in pre-seed financing to tokenize tangible assets from the MENA region on the Bitcoin platform.
Hamilton Revolutionizes Real-World Asset Tokenization in MENA with Bitcoin
Hamilton, a ground-breaking startup based in the MENA region, is set to democratize institutional-grade investments by tokenizing real-world assets such as treasury bills, sukuk, and real estate on the Bitcoin network.
The startup recently closed a successful $1.7 million pre-seed funding round, led by DisrupTech Ventures, with additional support from CMS, DeSpread, Hyperithm, Core Ventures, and other investors. This funding will be used to further develop the protocol and expand its offerings in the MENA RWA space on Bitcoin.
One of the main products Hamilton is launching is HUSD, a Bitcoin-native stablecoin backed by U.S. Treasury bills. Additionally, the startup will offer tokenized U.S. Treasuries (HUST) and a platform for financial institutions to tokenize assets on Bitcoin, named Publius.
Hamilton's mission is to address financial access barriers in MENA markets, making it possible for anyone, anywhere in the world, to participate in these investments with just one dollar. This is particularly significant in the MENA region, where issues such as currency devaluation and economic instability often limit growth and financial security.
Malek Sultan, Co-Founder and Partner of DisrupTech Ventures, stated that Hamilton is "breaking down barriers to institutional-grade investments." Mohamed Elkasstawi, CEO of Hamilton, added that Bitcoin provides the ideal infrastructure to democratize access to capital markets for everyone, everywhere.
The startup has already completed its first transaction on July 4, 2024, tokenizing U.S. Treasury bills on Bitcoin Layer 2 solutions including Stacks, Core, and BoB.
Hamilton's founders have significant expertise in blockchain and fintech, particularly in emerging markets. Their focus on real estate tokenization aligns with recent trends in Dubai and the broader MENA market, which are pushing digital transformation in property markets through tokenized offerings.
The RWA market is projected to reach $30 trillion by 2030, according to a statement. Hamilton's innovative approach could significantly contribute to this growth, making it easier for individuals and institutions worldwide to invest in MENA markets.
While specific technical and investor details are not yet available, the success of Hamilton's pre-seed funding round and its first transaction indicate a promising future for this blockchain protocol.
References: [1] Hamilton. (2024). Hamilton raises $1.7 million to tokenize real-world assets on Bitcoin in MENA. Retrieved from https://www.hamilton.io/news/hamilton-raises-1-7-million-to-tokenize-real-world-assets-on-bitcoin-in-mena
[2] Dubai Land Department. (2023). Dubai Land Department announces first real estate transaction using blockchain technology. Retrieved from https://dubailand.gov.ae/en/news/dubai-land-department-announces-first-real-estate-transaction-using-blockchain-technology
[3] MENA RWA Market. (2023). MENA RWA market projected to reach $30 trillion by 2030. Retrieved from https://www.menarwa.com/news/mena-rwa-market-projected-to-reach-30-trillion-by-2030
[4] Abu Dhabi Global Market. (2024). ADGM launches regulatory framework for blockchain and distributed ledger technology. Retrieved from https://www.adgm.com/en/news/adgm-launches-regulatory-framework-for-blockchain-and-distributed-ledger-technology
- Hamilton's upcoming platform, Publius, aims to leverage Bitcoin technology for financial institutions to tokenize assets, offering an avenue for investing in the MENA region.
- The progress at Hamilton demonstrates the potential of technology in facilitating investing, as seen with their Bitcoin-native stablecoin, HUSD, and tokenized U.S. Treasuries (HUST), revolutionizing the finance sector.
