Bed Bath & Beyond has signed an agreement to acquire Tokens.com as part of a strategic move into real estate finance and tokenized real-world assets (RWAs), aiming to merge traditional financial products with blockchain infrastructure.
According to a company announcement, Tokens.com — a blockchain-focused financial infrastructure firm — will be used to build a platform for real estate finance, tokenized securities and other RWAs, integrating blockchain systems with regulated financial services. Tokens.com will become a wholly owned subsidiary and is expected to leverage existing regulatory and operational infrastructure across the company’s blockchain businesses. Bed Bath & Beyond already owns or holds strategic stakes in blockchain companies, including tZERO and GrainChain.
The planned platform is designed to aggregate traditional and tokenized assets into a single interface, enabling users to view ownership, estimated values and liquidity options. It will support issuer-led tokenization, asset-backed lending and access to cryptocurrencies. Capital markets functions such as tokenization, custody and trading will be handled on tZERO, while mortgage and home-equity products are expected to be provided through partners like Figure Technologies.
Users accessing financing through the platform would be able to receive funds in cash or cryptocurrencies, including stablecoins. The company said the platform is expected to be operational by mid-2026, subject to closing conditions.
Bed Bath & Beyond filed for Chapter 11 bankruptcy in April 2023 after years of falling sales and began liquidating its U.S. retail operations. The Bed Bath & Beyond brand name and intellectual property were acquired by Overstock in a 2023 bankruptcy auction. Overstock subsequently rebranded as Beyond Inc. and relaunched Bed Bath & Beyond as an online-focused business.
Companies expanding into tokenized RWAs
Bed Bath & Beyond’s push into tokenized RWAs — which use blockchain to represent traditional assets — aligns with broader industry moves toward onchain financial infrastructure. In October, Telegram enabled access to about 60 tokenized U.S. stocks through a partnership with Backed and Kraken. ETHZilla (ETHZ), a former biotech that repositioned as an Ethereum treasury company, has pursued RWA tokenization via onchain credit deals, acquiring a 20% stake in Karus to issue tokenized auto-loan portfolios and a 15% stake in digital housing lender Zippy to bring manufactured-home loans onchain. In December, Mubadala Capital said it was working with Kaio to explore tokenizing private-market investment strategies.
Data from RWA.xyz shows the tokenized real-world asset market has expanded to roughly $24.2 billion in distributed value, up from $6.1 billion a year earlier — an increase of almost 300% year-on-year.
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