Real, a Layer 1 blockchain designed for institutional-scale real-world asset (RWA) tokenization, and iExec, a provider of confidential computing infrastructure, have signed a Memorandum of Understanding (MoU) to explore privacy-preserving infrastructure for tokenized assets. The collaboration will assess how institutional RWA issuance, distribution, and on-chain financial operations can be conducted while maintaining data confidentiality, compliance, and auditability.
Real's platform supports the complete lifecycle of tokenized assets, including onboarding, verification, risk assessment, settlement, and asset management. iExec contributes its confidential computing capabilities through Trusted Execution Environments (including Intel TDX) and its Nox Protocol, which enables encrypted data processing, confidential smart contract execution, selective disclosure, and verifiable computation.
The two companies will examine how the Nox Protocol can integrate with Real's Layer 1 network to enable confidential tokenized assets, encrypted transaction flows, and private financial operations. The scope includes confidential RWA issuance and distribution (such as encrypted balances and private transaction flows), financial operations like subscriptions, redemptions, dividend distributions, lending, and structured credit, as well as selective disclosure mechanisms for regulators and auditors. Compatibility with custody systems, settlement infrastructure, and potential secondary markets will also be evaluated.
“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.”
The MoU provides a framework for exploring institutional use cases, including tokenized funds and private credit. Next steps involve technical discussions, pilot project identification, and alignment on system architecture. As the tokenization of real-world assets grows, the ability to protect sensitive investor information while maintaining on-chain verifiability and regulatory access becomes critical for institutional adoption.
