Blocksquare Hires Seasoned Exec Fergus Murphy As Its New Head Of Global Institutional Banking To Accelerate Real Estate Tokenization
Ljubljana, Slovenia, December 6th, 2023, Chainwire
Blocksquare, creator of the world’s top blockchain-based tokenization platform for the real estate industry, announced that Fergus Murphy has joined the company as its new Head of Global Institutional Banking. Fergus is a highly skilled and experienced executive, whose illustrious career has spanned 25 years in the retail, business, banking and financial services industries.
With his proven track record of successful and transformative leadership in related industries, Fergus will play an instrumental role in helping Blocksquare to fulfill its vision of tokenizing the world’s property markets.
Earlier this year, Blocksquare successfully completed a key milestone when it successfully executed the world’s first notarized tokenization of a real estate property, which is now integrated within the Slovenian land registry. The achievement marked a revolutionary step forward for the global real estate industry, unlocking access to a tokenization market that’s forecast to reach $16 trillion by 2030, according to a recent report by the Boston Consulting Group.
Blocksquare is laser-focused on transforming the real estate market through tokenization, building an ironclad infrastructure platform that boasts regulatory compliance and uncompromising security. With this platform, the company intends to reshape the concept of property ownership by tokenizing real estate, using blockchain technology. It will pave the way for fractional ownership of real estate, boosting accessibility in what has traditionally always been one of the world’s most exclusive and highly illiquid marketplaces.
Fergus brings a wealth of experience to the company, having served with distinction in a number of leadership roles across related industries. He notably held the role of CEO at Rabobank Asia across 12 countries, prior to becoming the CEO of Ireland’s largest mutual mortgage bank, EBS. Most recently, he served as Chief Customer Officer at the U.K. digital native bank Virgin Money, an experience that underscores his strong commitment to customer-centric approaches in the financial sector.
Through his long and successful career, Fergus has gained an unrivaled understanding of the global regulatory landscape. This, together with his extensive background in risk management and bank transformation, makes him the ideal candidate to help Blocksquare navigate the complex regulatory challenges within the real estate and financial industries.
Fergus said he’s excited by the opportunities Blocksquare will create in the real estate market, stressing the transformative and disruptive potential of blockchain, tokenization and the fractional ownership of property. According to Fergus, tokenization will herald a new era of participation, speed, efficiency and opportunity at a time when 80% of global real estate is held in highly illiquid, private markets.
Fergus shares Blocksquare’s vision of a future where tokenization will enable banks to hold digital collateral, developers to seek faster and more efficient funding, real estate agents to create new investment products, and fund managers to engage in more diversified investing strategies. “I am passionate about the transformation of global property markets to a fit for purpose 21st-century experience for all participants,” he stated.
Besides the new opportunities, Fergus believes tokenization will facilitate the modernization of land registries in countries around the world, enabling property owners to manage their homes as assets in a more flexible way.
Fergus joins Blocksquare at a pivotal moment for real-world asset tokenization projects, with recent developments in global financial markets underscoring the need for visionary leadership that can accelerate the adoption of blockchain infrastructure and create new opportunities to drive an economic rebound.
“Blockchain infrastructure, tokenization, and the fractionalization of property are absolutely key to this enormous opportunity,” Fergus added. “I’m therefore delighted to be joining such a leading company as Blocksquare who are forging ahead with innovative solutions to build the global property infrastructure and ecosystem of the future.”
About Blocksquare
Blocksquare is an award-winning company developing the world’s leading blockchain-based real estate tokenization system. Headquartered in Ljubljana, Slovenia (EU), Blocksquare has developed a state-of-the-art system in close co-operation with Medius – the leading provider of enterprise software solutions in the CEE region.
Blocksquare’s vision is to power 100s of platforms across the globe, connecting investors to real estate opportunities in their region. With its real estate tokenization protocol, anyone can start digitizing real estate assets at a fraction of the cost, while its white-label platform provides the quickest way to launch an online marketplace. More recently, Blocksquare expanded its operations into the realm of decentralized finance (DeFi) with Oceanpoint – a new layer on top of their established tokenization infrastructure to create borderless access to real estate financing for anyone with an internet connection.