HokenFi - RWA Infrastructure in Spain

All-in-one platform for the issuance of real assets in Spain

[HokenFi - RWA Infrastructure in Spain @hokenfi]

HokenFi is infrastructure for issuing tokenized real-world assets under Spanish law.

Legal structuring, the DLT register kept by an authorised entity, KYC and investor onboarding, in one platform.

We build the software; every regulated function stays with the licensed firm.

[HokenFi - RWA Infrastructure in Spain @hokenfi]

The full guide, in Spanish, walks the structure end to end, with the paperwork each step asks for...

https://t.co/13dmibI6Dy

[HokenFi - RWA Infrastructure in Spain @hokenfi]

In Spain, a tokenized real estate deal puts a company between the investor and the building.

The investor usually holds a bond issued by that company.

The tokens never stand for a fraction of the building.

[HokenFi - RWA Infrastructure in Spain @hokenfi]

Where debt fits

Debt suits an owner who needs financing for a fixed term and prefers to keep the cap table closed.

Bondholders are creditors of the company; in the deals we reviewed, no mortgage secures the bonds.

[HokenFi - RWA Infrastructure in Spain @hokenfi]

An investor on HokenFi clears six steps in order before signing.

- Identity
- Personal data
- Investor profile
- Additional data
- Appropriateness test
- Legal disclaimer

Each step unlocks the next.

None can be skipped.

https://t.co/7RbCZNqubv

[HokenFi - RWA Infrastructure in Spain @hokenfi]

@arrola 👀👀

[HokenFi - RWA Infrastructure in Spain @hokenfi]

Setting up a mid-sized tokenized issuance in Spain costs

€95,000 to €320,000

Our 2026 tokenization guide covers the six phases, the seven verticals and who does what.

Written with three law firms, in Spanish.

If you are planning one...
https://t.co/13dmibI6Dy

[HokenFi - RWA Infrastructure in Spain @hokenfi]

Twenty-one issuances in under two years, one register, zero prospectuses.

The market is small and it is real.

If you are planning the twenty-second...
This is where it starts: https://t.co/7RbCZNqubv

[HokenFi - RWA Infrastructure in Spain @hokenfi]

21 tokenized securities registered in Spain since November 2024.
- 17 bonds
- 4 equity

€77.9M in total

One registrar for all of them.

Here's what the public register tells you about how issuance actually works.

[HokenFi - RWA Infrastructure in Spain @hokenfi]

HokenFi integrates a single workflow spanning from the offering document to investor onboarding.

- Lawyers
- KYC/KYB
- Investment Services Firm
- Issuance registration

Regulated functions remain the responsibility of authorized entities.

Coordination, however, does not.

[HokenFi - RWA Infrastructure in Spain @hokenfi]

BUIDL shows where the demand is.

HokenFi is built for the supply side in Europe: offer document, law firm, KYC/KYB and registrar in one flow, for the company issuing the bond.

Start here: https://t.co/7RbCZNr213

[HokenFi - RWA Infrastructure in Spain @hokenfi]

BlackRock's BUIDL alone holds about $2.8B, 18.5% of a $15.1B tokenized Treasury market.

Funds are the biggest line in tokenized real-world assets.

Here's what that means for a European company that wants to issue tokenized debt.

[HokenFi - RWA Infrastructure in Spain @hokenfi]

That is why 17 of the 21 tokenized securities in Spain's public register are bonds.

For a company that needs capital, debt is the shortest regulated path on-chain.