Latvia plans to have a legal framework for asset tokenisation in the first half of 2027, according to economy minister Viktors Valainis. An assessment that was due by 1 October is still under way. The first area will be commercial real estate, with government bonds also on the priority list. The country wants to attract digital-asset firms with clear rules.
What it means: Small EU states such as Latvia, Lithuania and Luxembourg are trying to become hubs for new financial technology by offering quick and clear legal frameworks. MiCA covers crypto-assets and stablecoins, but tokenising property and bonds mainly concerns national property law, land registries and securities rules, so each state needs its own provisions. For Greece, where the land registry is being completed and property investment is significant, the Latvian plan is a useful reference. Some form of tokenisation could in theory allow smaller stakes in commercial property or projects, but it requires legal certainty about what exactly a token represents, how transfers are recorded and who supervises. The delay in the Latvian assessment also shows that these issues are more complex than announcements suggest. Greek firms with an interest should also follow the EU DLT pilot regime, which allows supervised tests of trading and settlement of tokenised securities. Until there is a Greek framework, any public offer of tokenised property should be treated with caution.
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