World Liberty Financial (WLFI), backed by the Trump family, recently announced a partnership with tokenization platform Securitize and London-listed developer DarGlobal to launch the first real-world asset (RWA) tokenization project, issuing loan proceeds from the Trump International Hotel & Resort, Maldives on the blockchain.
The target project will not be completed until 2030: a six-year development period and uncertainties.
While the official press release emphasizes that this is a "landmark property," it's important to note that this resort, which is expected to include 100 beach and overwater villas, is still under development and is not expected to be completed until 2030. This means that investors are essentially buying a debt claim on a project that won't be fully completed for another six years, and the development progress and the overall economic environment during this period will be potential variables and risks.
What is the background of Securitize?
The platform responsible for this technology issuance, Securitize, was founded in 2017 and currently holds approximately 20% of the RWA tokenization market share. In October 2025, the company completed a funding round of up to $225 million, backed by traditional Wall Street and crypto financial giants such as BlackRock, Morgan Stanley, and Jump Crypto. BlackRock's tokenization fund, BUIDL, is already running on the platform.
Securitize CEO Carlos Domingo has stated that he plans to go public through a special purpose acquisition company (SPAC) (originally scheduled to proceed in January of this year), and even intends to tokenize his own stock. Domingo bluntly stated that the purpose of going public is to obtain financial resources from the stock market so that in the wave of consolidation in the crypto industry, he can "swallow others, rather than be integrated by others".
Retail investors are excluded: Due to US securities laws, only "accredited investors" can purchase the shares.
Real estate tokenization faces stringent regulatory hurdles. To comply with regulations, these tokens will be issued through a private placement in accordance with the U.S. Securities Act of 1933. This means the product is only open to verified "accredited investors" or qualified non-U.S. individuals; retail investors are not within the target customer group.
The Trump Organization only licenses the brand, but still receives a 38% cut of the revenue.
Judging from the disclaimer and profit-sharing structure at the end of the press release, DT Marks Defi LLC, an entity associated with the Trump family, indirectly holds approximately 38% of the economic interests through a complex structure, and is entitled to a substantial share of the profits from the token issuance. The statement emphasizes that the Trump Organization and its executives are not the issuers, sponsors, or sellers of the tokens; using the "Trump" name is merely a simple brand authorization. Such a vehement attempt to distance themselves from responsibility seems somewhat like a cover-up.
This article , about WLFI's collaboration with Securitize to tokenize the debts of Trump Hotel and Maldives Resort, first appeared on ABMedia ABMedia .
