- Real signs memorandum of understanding with iExec to develop privacy-focused infrastructure for tokenized real-world assets (RWA).
- The companies will explore encrypted asset issuance, private lending, and compliant on-chain financial operations.
- Confidential computing gains attention as institutional tokenization markets continue to grow.
Real has entered a memorandum of understanding with iExec to jointly evaluate privacy-preserving infrastructure for tokenized assets. The partnership aims to design solutions that let institutions issue, distribute, and manage RWAs on-chain while protecting sensitive data and supporting regulatory and audit needs.
Real brings end-to-end infrastructure for the tokenized asset lifecycle, including onboarding and verification, risk assessment, settlement, and ongoing asset management. Its Layer 1 blockchain supports issuance and custody workflows required by institutional actors.
iExec contributes confidential computing technology, leveraging Trusted Execution Environments like Intel TDX and its Nox Protocol to enable encrypted data processing and confidential smart contract execution. These capabilities include selective disclosure and verifiable computation for scenarios that require both privacy and proofability.
Under the agreement, the partners will assess how the Nox Protocol can be integrated with Real’s blockchain to support encrypted tokenized assets, private transaction flows, and confidential financial operations. The goal is to enable on-chain activity that remains verifiable to authorized parties while keeping sensitive information shielded from public view.
The collaboration focuses on confidential RWA issuance and distribution with encrypted balances and private settlement flows. It will also investigate financial operations commonly used by institutional products—subscriptions and redemptions, dividend distributions, lending, and structured credit—ensuring those processes can run privately without sacrificing compliance.
“Institutions need more than tokenization. They need infrastructure that protects sensitive financial data while still allowing compliance, oversight, and auditability,” said Ivo Grigorov, CEO of Real.
“Our partnership with iExec is an important step toward exploring how confidential computing can support the next generation of real-world asset markets.”
Part of the work will include building selective disclosure tools for regulators and auditors so that authorized entities can access necessary information while general ledger transparency remains limited. The teams will also evaluate how confidential assets can interoperate with custody providers, settlement systems, and potential secondary-market infrastructure.
The memorandum establishes a framework for assessing institutional use cases such as tokenized funds and private credit. Planned next steps include technical workshops, identifying pilot projects, and aligning the architecture needed to integrate confidential computing into production-ready tokenization platforms.
As real-world asset tokenization expands, institutional participation increasingly depends on protecting sensitive data like investor allocations and transaction details. Real and iExec will examine how confidential computing can enable private on-chain financial operations while preserving verifiability and controlled access for regulators and auditors.
The partners emphasize that any solution must balance privacy with the operational and compliance requirements of institutional markets, enabling secure, auditable, and interoperable tokenized asset ecosystems.