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Real Estate Tokenization
in Kyrgyzstan

Kyrgyzstan is modernizing its Virtual Assets (VA) framework. Draft amendments explicitly include real-world-asset (RWA) tokens such as real estate, while the state has launched a national crypto exchange and continues cadastral modernization — laying the foundation for compliant property tokenization

  • Draft RWA-token amendments (2025) explicitly reference real estate

  • 13 licensed crypto exchanges + Unified VA Issuance Register live

  • State-backed “Coin National Exchange” launched in Jan 2025

  • Strong government engagement (Presidential Council, Binance dialogue)

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  • Draft RWA-token amendments (2025) explicitly reference real estate

  • 13 licensed crypto exchanges + Unified VA Issuance Register live

  • State-backed “Coin National Exchange” launched in Jan 2025

  • Strong government engagement (Presidential Council, Binance dialogue)

About

Why Kyrgyzstan is Attractive for Tokenization

Regulatory reform

Draft law defines RWA tokens, including property, as a recognized digital-asset class

Active infrastructure

National crypto exchange, issuance register, 13 licensed exchanges

Policy engagement

Direct Presidential discussions with global platforms (e.g., Binance)

Property market modernization

Ongoing cadastral valuation pilots in Bishkek & Osh (2025)

Massive real-estate demand

Apartments/buildings available; land ownership restricted but possible through SPVs/leases

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Tokenization Routes

Possible Routes for Tokenizing Property
in Kyrgyzstan

VA (Digital Token) Route

Offshore Issuer + Local SPV

Future RWA Token Route (pending 2025 law)

  • VA (Digital Token) Route

    When: Fractional participation where land registry is not integrated.
    How:Use SPV (LLC/JSC) to hold property.
    Distribute via VASP-licensed platforms hosted in Kyrgyzstan.
    Note: Tokens ≠ legal claims; registry transfers remain off-chain.

  • Offshore Issuer + Local SPV

    When: Fundraising abroad, limited KR distribution.
    How: Offshore token issuance backed by KR SPV asset; geofence KR unless using licensed VASP.

  • Future RWA Token Route (pending 2025 law)

    When: Upon adoption of draft amendments.
    How: Issue asset-backed RWA tokens explicitly tied to real estate; expect rules on custody, valuation, and investor rights.

Real cases

Implemented Market Examples

  • Nurai × Blocksquare (Bishkek pilot)

    First pilot of real estate tokenization in Bishkek, structured via a local SPV and integrated with the Blocksquare protocol. The project tokenized a commercial property, with tokens offered to a controlled investor group.

  • Crypto-settled property transactions

    Media reports confirm that certain real estate purchases in Bishkek and Issyk-Kul resorts have been settled in cryptocurrency. While these are not full tokenization deals, they highlight increasing regulatory tolerance and market readiness for digital asset integration.

Considering tokenization in Kyrgyzstan?
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Bring innovation to Central Asia’s emerging property market

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Solution

The Solution with Tokenizer.Estate

Funding in Weeks, Not Months

Launch token offerings in 1–2 weeks instead of waiting 6–12 months with banks

Global Investor Pool

Reach thousands of international investors with fractional entry points starting at $100

Dynamic Pricing & Incentives

Stage token prices across development phases to maximize returns and reward early backers

Compliance Built-In

Legal frameworks aligned with EU (MiFID II), UAE (VARA), and other jurisdictions

Full Control

Manage token supply, smart contracts, and investor data from a single dashboard

Use cases

Solutions Designed for Your Success

We support everyone from Real estate owner to Sovereign Funds

FAQ

Frequently asked questions

  • Are real-estate tokens considered securities in Kyrgyzstan?

    No. Under the Law “On Virtual Assets,” digital tokens are a form of virtual asset (VA), not securities. Even if backed by property, they are treated as secured VAs, unless structured as classic securities (shares/notes) under the Securities Market Law.

  • Do token transfers update the land registry?

    No. Ownership and encumbrances in real estate are recognized only after registration in the State Real Estate Register with a notarized deed. Token transfers alone do not change cadastral records.

  • Are platforms offering real-estate tokens regulated?

    Yes. Platforms acting as exchanges, custodians, or distributors must be licensed VASPs, operate servers physically in Kyrgyzstan, and comply with AML/CFT requirements.

  • Is there a draft law for RWA tokens?

    Yes. Draft amendments (2025) would introduce a new category of RWA tokens, explicitly naming real estate as eligible backing. If adopted, these rules will clarify custody, valuation, and investor protections.

  • Can foreigners own land via tokens?

    Foreigners may own apartments, buildings, and premises, but not land freehold. Land is usually accessed through leasehold or a Kyrgyz SPV. Any tokenization must respect these restrictions.

  • What is the Unified Register of VA Issuances?

    All new VA issuances must be entered into this official state register. Issuers must submit disclosures (white-paper style), and the issuance becomes publicly visible.

  • What about marketing rules?

    All VA advertising must include risk warnings and cannot imply guaranteed returns. The rules apply even to ads placed outside Kyrgyzstan if they target Kyrgyz investors.

See our full FAQ page for more details

Adopted for

Global Jurisdictional Coverage

Every market has its own rules. We’ve already built the structures to make tokenization work — from Europe to Asia to the Middle East. Launch with confidence, wherever your investors are

Last updated: 2025-10-01

The information on this page is for general informational purposes only and does not constitute legal, financial, investment, or tax advice.
Tokenizer.Estate provides a platform for real estate tokenization and connects you with licensed local partners, but we do not provide legal or regulatory guidance.
Please consult qualified professionals in your jurisdiction before making any investment or tokenization decisions.

Sources & References

  1. FSA Kyrgyzstan: https://fsa.gov.kg/
  2. Law “On Virtual Assets” (2022, amended): https://24.kg/
  3. Cabinet Decree No. 514: https://gov.kg/
  4. National crypto exchange launch: https://economist.kg/
  5. Draft RWA amendments: https://topnews.kg/
  6. Land/property law: https://www.zakon.kg/

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