Real estate coin jumps 90% following Coinbase announcement to tokenize real world assets
Real estate blockchain project Propy witnessed an 90% surge of its token’s value as Coinbase’s asset management arm is set to tokenize real world assets. On Dec. 13, 2023, Propy‘s PRO token surged a significant 93% within just one day after the U.S.-headquartered crypto exchange Coinbase announced plans to double down on real world assets tokenizing. According to CoinGecko data, PRO surpassed in a moment the $0.83 threshold, propelling the token’s market capitalization up to $40.7 million. PRO price in USD | Source: CoinGecko The raped increase of PRO’s value followed Coinbase’s announcement of its venture called Project Diamond, a platform for issuing and trading blockchain-based debt instruments. As crypto.news reported, the launch came amid intense competition to integrate traditional financial asset s like bonds and credit into blockchain systems. This process, known as the token ization of real- world asset s (RWAs), is believed to enhance settlement speeds, reduce oper