Real estate market drives interest in tokens

A Housing & Development Board (HDB) public housing estate, where there is ongoing mandatory Covid-19 testing for residents, in the Redhill area of Singapore, on Monday, June 21, 2021. The Singaporean government widened mandatory testing in the large neighborhood outside the city center where a cluster has been expanding since mid-June. Photographer: Wei Leng Tay/Bloomberg

SINGAPORE: For full-time private investor Wong Yong Kai, an opportunity to invest in a landed property with a starting sum of just S$20,000 was too tempting to ignore.

Wong, who is in his late 30s, decided to commit S$100,000 to a redevelopment project led by FRX Capital to transform a bungalow in Haig Road into a trio of terrace houses. He invested in the project in 2020 via digital tokens offered by online real-estate investment platform Fraxtor, which shares the same founders as FRX Capital.