RealX and MST Blockchain Launch ‘The Box’ to Tokenise Real Estate in India
Mumbai, September 11, 2026: RealX and MST Blockchain, in partnership with Liminal, launched ‘The Box’ to enable the compliant tokenisation of Real-World Assets (RWAs) in India. World Trade Centre Mumbai joined the initiative as the ecosystem partner. The launch introduces RealX REDbox and Whitebox, powered by MST Blockchain, combining the legal, marketplace, and blockchain infrastructure needed to establish tokenised asset platforms on domestic rails.
According to a press release, RealX’s REDbox operates as a Platform-as-a-Service solution that allows real estate developers to launch tokenised property offerings through their own brands, websites, and customer channels. Whitebox serves as an open-architecture infrastructure layer enabling startups, corporates, and asset businesses to construct their own branded RWA tokenisation platforms.
Both platforms run on MST Blockchain, an enterprise-ready Indian Layer-1 blockchain that supplies the underlying distributed ledger infrastructure. RealX provides the legal framework for creating enforceable digital assets, while MST Blockchain delivers the technical architecture to support secure, scalable, and auditable digital systems. The companies intend for the infrastructure to serve as an open foundation for India’s emerging RWA economy, allowing developers to build tokenisation businesses without reliance on foreign platforms.
“We set out to prove that real estate could be owned digitally and legally at the same time. Once we had proved it on our own marketplace, the next step was obvious: make that infrastructure available to every developer and every RWA platform that needs it. That is what REDbox and Whitebox represent,” said Manish Kumar, Co-Founder & CEO, RealX. He added, “Tokenisation in India isn’t a technology problem alone; it is a legal enforceability problem. You can’t code around title deeds; you have to engineer them.”
“Our vision is to bring blockchain from an emerging technology to practical infrastructure for governments, enterprises and institutions. The next phase of blockchain adoption will be driven by real-world applications, including land records, digital credentials, asset tokenisation, supply chains and government services,” said Pramod Borate, Chairman & Founder Director, Masterstroke Technosoft.
“For tokenisation to move from experimentation to institutional adoption, the ecosystem needs infrastructure that brings together compliance, transparency, security and robust custody. Open infrastructure initiatives like The Box are important because they create the foundation on which real-world assets can be tokenised and managed with greater confidence, while enabling the broader ecosystem to build at scale,” said Manhar Garegrat, India Head, Liminal.
