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INDONESIA'S FIRST PROPERTY ASSET TOKENIZATION COLLABORATION BETWEEN D3 LABS, BTN, AND RELIANCE GROUP.

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INDONESIA'S FIRST PROPERTY ASSET TOKENIZATION COLLABORATION BETWEEN D3 LABS, BTN, AND RELIANCE GROUP.
Business

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INDONESIA'S FIRST PROPERTY ASSET TOKENIZATION COLLABORATION BETWEEN D3 LABS, BTN, AND RELIANCE GROUP.

2024-07-31 18:15 Last Updated At:18:35

JAKARTA, Indonesia, July 31, 2024 /PRNewswire/ -- D3 Labs, a provider of blockchain-based financial technology solutions, in collaboration with Indonesia's state-owned bank PT Bank Tabungan Negara (Persero) Tbk (BTN) and PT Reliance Manajer Investasi (RMI), has developed the first property asset tokenization product in Indonesia. This was achieved through a blockchain technology-based Real Estate Investment Fund (REIT) scheme. This achievement is the outcome of BTN's collaboration with PT Reliance Manajer Investasi (RMI) as an investment manager and D3 Labs as a blockchain technology provider for digital asset tokenization.

In this partnership, D3 Labs plays a critical role in providing banking-grade tokenization infrastructure, empowering emerging market financial products to be made available to global audiences. This partnership with BTN, the largest Indonesian mortgage state-owned bank that manages around 40% of the Indonesian mortgage market, is a testament to the capability of D3 Labs' infrastructure, being able to pass the highest criteria of banking and compliance standards.

Indonesia has emerged as a prime destination for international investors, with foreign direct investment (PMA) reaching a substantial USD 946.4 million or approximately IDR 14.19 trillion by the conclusion of the first quarter of 2024. Indonesia is the 4th most populous country in the globe, combined with a rising middle class, Indonesia is commonly viewed as one of the largest and most potential emerging markets in the world. Despite the prevailing global economic difficulties, Indonesia's real estate sector has presented a picture of resilience, drawing interest from investors across Southeast Asia, as well as from Hong Kong, China, India, Australia, Japan, and France, who are keen to participate in real estate investment within the nation.

Tigran Adiwirya, CEO of D3 Labs, has noticed a widespread adoption of blockchain technology for digitally tokenizing financial assets in recent years. This trend is mainly due to the highly liquid and efficient market. According to Nareits - the Association for REITs and Mortgage REITs based in Washington D.C., the total equity market capitalization for listed REITs has reached USD 2.0 trillion by the end of 2023. In September 2023, the tokenization of REITs surged to USD 178 million, marking a remarkable 90% growth from the 2022 figures. This substantial increase can be attributed to utilizing blockchain technology, which introduces new investment opportunities and positively impacts liquidity. It's important to note that REITs' tokenization currently only represents a small fraction of the potential opportunity. With this in mind, D3 Labs, along with BTN and Reliance, are strategically positioned to capitalize on this growing trend.

BTN's Director of Risk Management, Setiyo Wibowo, emphasized BTN's endorsement of technological innovation within the financial sector through digital asset tokenization. The primary objective is to broaden investor access to domestic and international property investments. Setiyo explained, "BTN will supply property assets that conform to the underlying REITs' criteria for subsequent tokenization. This process designates the property owner, an active BTN debtor, as the issuer of REIT products. RMI will oversee the management of these assets, while D3 Labs will handle their tokenization."

The current investment opportunity has captured the attention of approximately 195 countries worldwide, each of which is actively formulating regulations about the tokenization of real-world assets. Meanwhile in Indonesia, the provisions for REIT products have been issued since 2017 by OJK Regulation No. 64/POJK.04/2017 concerning Real Estate Investment Funds in the Form of Collective Investment Contracts. Entities that issue REITs stand to gain numerous advantages, including access to new funding for business expansion, tax incentives, and transforming illiquid assets into liquid assets. Similarly, REIT investors can benefit from a highly affordable alternative investment in real estate, protection against inflation, and increased transparency. Setiyo emphasized that RIET Tokenization will be developed through a Sandbox or trial with OJK (Indonesia's Financial Services Authority), conducted by RMI and D3 Labs.

"D3 Labs specializes in providing blockchain technology solutions for financial services institutions. Our blockchain solution, SeaSeed, is a blockchain extension module that enables financial services institutions to securely manage their transactions and data confidentiality. Our goal is to assist in the development of standardized banking products utilizing blockchain technology, with a focus on transaction security, transparency, and accountability," stated Tigran.

About D3 Labs

D3 Labs is a pioneering leader in programmable assets and blockchain technology, dedicated to revolutionizing the financial landscape in Indonesia and the broader Southeast Asia region. With a focus on empowering businesses, D3 Labs delivers cutting-edge programmable asset infrastructure solutions to streamline processes and enhance competitiveness.

For more information, visit: www.d3labs.io or our social media :
Linkedin: D3 Labs 
Youtube: D3 Labs 
Instagram: @d3labs.io

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

INDONESIA'S FIRST PROPERTY ASSET TOKENIZATION COLLABORATION BETWEEN D3 LABS, BTN, AND RELIANCE GROUP.

INDONESIA'S FIRST PROPERTY ASSET TOKENIZATION COLLABORATION BETWEEN D3 LABS, BTN, AND RELIANCE GROUP.

SHANGHAI, Jan. 23, 2025 /PRNewswire/ -- Zhangjiajie, one of China's most iconic and breathtaking natural destinations, is joining forces with Trip.com Group to offer international travellers engaging experiences in 2025. The strategic partnership, highlighted during the "Fairyland Zhangjiajie, Enchanting the World" event held in early January, sets the stage for a new chapter in the region's tourism development.

This collaboration, co-hosted by the Zhangjiajie Municipal Bureau of Culture, Sports, Tourism, Radio & Television and Trip.com Group, brought together global travel influencers from 12 countries and regions. This includes the UK, South Korea, Japan, Spain, Australia, Canada, Belarus, South Africa, Colombia, Nepal, Ukraine, and Hong Kong, offering them a firsthand look at Zhangjiajie's stunning landscapes, vibrant culture, and authentic experiences. By showcasing these elements to a global audience, Zhangjiajie is positioning itself as an unmissable travel destination for 2025.

Exploring Zhangjiajie: A Gateway to New Experiences

Through this partnership, Trip.com Group is playing a key role in elevating Zhangjiajie's status as a must-visit destination, promoting the city's unique offerings to an international audience. The collaboration is focused on creating travel packages and innovative experiences that highlight the region's natural wonders and rich cultural heritage. These offerings will cater to a range of travellers—from adventure seekers to culture enthusiasts, and those seeking luxury escapes.

During the "Fairyland Zhangjiajie, Enchanting the World" event, guests explored some of Zhangjiajie's most famous landmarks, including the Yuanjiajie Area in Zhangjiajie National Forest Park, which inspired the floating mountains of James Cameron's Avatar. They ventured to Tianzi Mountain, where the mystical mountain mists provided a dreamlike backdrop, and took on the Zhangjiajie Grand Canyon's Glass Bridge, one of the world's highest glass bridges, offering a thrilling, panoramic view of the abyss below.

For those with a thirst for adventure, Tianmen Mountain's 999-step Stairway to Heaven and exhilarating zipline rides offer unbeatable adrenaline-filled moments. Meanwhile, cultural performances such as the "Charming Xiangxi" Show showcase the rich traditions of the region, including the Tujia ethnic group's emotional "crying wedding" and the famed Xiangxi Corpse-Driving Ritual, making for unforgettable evening entertainment.

The collaboration between Zhangjiajie and Trip.com Group isn't just about sightseeing—it's about crafting memorable, immersive travel experiences. For those looking to fully immerse themselves in the destination's offerings, the partnership introduces standout products such as Trip.com Group's Country Retreats (Zhangjiajie Manxin Joint Branch), offering a stay that blends luxury with nature. This retreat, nestled in the heart of Zhangjiajie's extraordinary landscapes, provides travellers with majestic views of the surrounding peaks and valleys, making it the perfect base to explore the region's wonders.

A representative from the Zhangjiajie Municipal Bureau of Culture, Sports, Tourism, Radio & Television noted that this event marked the first major media tour of the year for Zhangjiajie and the largest such event since the implementation of the 240-hour visa-free transit policy.

Looking ahead to 2025, Zhangjiajie is positioning itself to take full advantage of China's tourism-boosting strategies. The city's strategy will focus on four key areas: strengthening its brand, innovating marketing strategies, diversifying tourism offerings, and optimising services. Plans include hosting events like the Global Tourism Innovation Week and International Street Dance Week, collaborating with major international hub cities to create premium travel routes, and developing new cultural tourism products. The city also aims to introduce high-end vacation and mountain sports experiences while streamlining customs, payment systems, language services, accommodations, dining, and restroom facilities.

According to reports, Zhangjiajie's inbound tourism saw explosive growth in 2024, with visitors from 183 countries and regions — 50 more than the previous peak. The city welcomed over 1.83 million international tourists, marking a 166.3% year-on-year increase.

The Zhangjiajie port handled 532,000 inbound and outbound travellers, maintaining its top status among non-provincial capital cities in central and western China. Inbound tourism revenue surged to US$1.008 billion, a remarkable 504.3% increase year-on-year.

This growth is expected to continue, supported by strategic initiatives aimed at driving high-quality growth in the sector.

Zhangjiajie's collaboration with Trip.com Group signals an exciting future for the destination, and as the region prepares to welcome even more international visitors, it is clear that this partnership will continue to shape the future of tourism in Zhangjiajie—transforming it into a true "fairyland" for travellers from around the globe.

About Trip.com Group

Trip.com Group is a leading global travel service provider comprising of Trip.com, Ctrip, Skyscanner, and Qunar. Across its platforms, Trip.com Group helps travellers around the world make informed and cost-effective bookings for travel products and services and enables partners to connect their offerings with users through the aggregation of comprehensive travel-related content and resources, and an advanced transaction platform consisting of apps, websites and 24/7 customer service centres. Founded in 1999 and listed on NASDAQ in 2003 and HKEX in 2021, Trip.com Group has become one of the best-known travel groups in the world, with the mission "to pursue the perfect trip for a better world". Find out more about Trip.com Group here. Follow us on Twitter, Facebook, LinkedIn, and YouTube.

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Zhangjiajie and Trip.com Group Partner to Unveil The Destination's "Fairytale" Charm Globally

Zhangjiajie and Trip.com Group Partner to Unveil The Destination's "Fairytale" Charm Globally

Zhangjiajie and Trip.com Group Partner to Unveil The Destination's "Fairytale" Charm Globally

Zhangjiajie and Trip.com Group Partner to Unveil The Destination's "Fairytale" Charm Globally

Zhangjiajie and Trip.com Group Partner to Unveil The Destination's "Fairytale" Charm Globally

Zhangjiajie and Trip.com Group Partner to Unveil The Destination's "Fairytale" Charm Globally

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