Bed Bath & Beyond Inc. (NYSE: BBBY) is acquiring Tokens.com, with the goal of establishing a platform that will offer real estate and other real-world asset financing that encompasses tokenized and traditional investing.
The Murray, Utah-based company – which owns the Bed Bath & Beyond, Overstock, and buybuy BABY retail brands – also maintains strategic investments and ownership interests in digital asset and blockchain businesses, including tZERO and GrainChain, held both directly and through its Medici portfolio.
According to the company, Tokens.com will support issuer-led tokenization of qualifying public and private securities and tokenized real-world assets, alongside asset-backed financing solutions, including home purchases, refinancing, and home equity solutions. The platform will also allow access to a range of cryptocurrencies as a funding vector and investable asset and, over time, other tokenized and traditional assets.
Tokens.com will be wholly owned by Bed Bath & Beyond, and the company expects the new platform to be operational by July 1. The financial terms of the deal were not disclosed.
“Our strategy brings together partners like Figure Technologies and Figure Markets, the infrastructure of tZERO, and the operating and AI integration capabilities provided by ShyftLabs,” said Marcus Lemonis, executive chairman and CEO of Bed Bath & Beyond. “Providing responsible, compliant liquidity pathways for homeowners and real-world asset holders is our strategy and long-term vision.”
Photo by Mike Mozart / Flickr Creative Commons
