Mumbai, September 13, 2026: India’s digital economy, having already transformed payments through UPI, is now poised for its next frontier: digital ownership. At the launch of The Box by RealX and MST Blockchain, in partnership with Liminal Custody, Shri Ashish Shelar, Minister of Information Technology, Government of Maharashtra, emphasised that responsible tokenisation could make traditionally inaccessible assets such as real estate more participative, transparent, and inclusive.
Minister’s Key Remarks
- Digital Ownership as the Next Frontier:“The next frontier is digital ownership,” Shelar said, pointing to high entry costs, complex documentation, opaque processes, and limited liquidity that have historically made real estate inaccessible to large sections of Indians, particularly younger citizens.
- Role of Tokenisation:“Responsible tokenisation can help address these barriers. It can represent clearly defined rights in real-world assets through secure digital units, create verifiable records, widen participation, and connect capital with productive opportunities.”
- Trust & Governance: Shelar stressed that technology alone cannot create trust. Tokenisation must be supported by:
- Legal enforceability
- Transparent disclosure
- Cybersecurity
- Reliable custody
- Sound governance
- Strong investor protection
“A token must not become a shortcut around the law. It must help make rights clearer, transactions more transparent, and accountability stronger,” he added.
Policy Context: Maharashtra’s DELTA Framework
- Maharashtra has proposed the Digitisation and Exchange of Land Token Asset (DELTA) framework to create a legal architecture for tokenising land and immovable assets.
- This framework aims to provide legal clarity, enforceability, and investor protection while enabling innovation in asset ownership.
- Initiatives such as The Box are expected to contribute to building the infrastructure needed to translate tokenisation’s potential into real-world applications.
About The Box
The launch showcased two platforms designed to address different parts of the real-world asset tokenisation ecosystem:
- REDbox: Enables real estate developers to introduce tokenised property offerings under their own brands and platforms.
- WHITEbox: Complements REDbox by addressing other aspects of tokenisation infrastructure.
Key Contributors:
- RealX: Provides the framework to connect blockchain-based digital units with legally enforceable rights in real-world assets.
- MST Blockchain: Supplies blockchain infrastructure.
- Liminal Custody: Delivers the security and custody layer.
Broader Vision
Shelar linked tokenisation to India’s larger development ambitions: “India must not simply adopt emerging technology. India must build secure, trusted, and responsible systems around it.”
He emphasised that scalable and credible technology platforms could:
- Enable wider participation in the real estate ecosystem.
- Support India’s broader development objectives.
- Strengthen citizen trust in digital ownership systems.
About RealX, MST Blockchain & Liminal Custody
- RealX: Focused on bridging blockchain tokenisation with legally enforceable rights in real-world assets.
- MST Blockchain: Provides robust blockchain infrastructure for tokenisation platforms.
- Liminal Custody: Ensures secure custody and compliance for digital asset units.
