Bed Bath & Beyond (BBBY) jumps 7% on deal to tokenize real estate with Tokens.com buy

Bed Bath & Beyond (BBBY) shares increased by 7% after the relaunched retailer announced its intention to acquire Tokens.com and establish a platform dedicated to asset tokenization, beginning with real estate. This platform aims to allow users to access the value of their assets, such as converting home equity into cash or tradable digital tokens, bypassing traditional bank loan applications. Tokens.com will utilize tools from tZERO for regulated trading and asset storage, and integrate with blockchain firm Figure to provide financial services like mortgages and renovation loans. The platform is slated for a July debut. This move aligns with Bed Bath & Beyond's post-restructuring focus on blockchain technology and tokenization, following its 2023 bankruptcy and subsequent brand sale to Overstock.com. Under CEO Marcus Lemonis, the company now operates various retail brands while also investing in fintech and blockchain, holding the largest shareholder position in tZERO.

(Source：CoinDesk)