OFA Group has entered into a tokenization service agreement with Vero 60 LLC and Vero Beach Land Development LLC to provide blockchain infrastructure for a residential real estate project in Vero Beach.
Under the agreement signed on May 8, OFA Group will receive a platform technology fee of $7.5 million. The payment will be made in two installments of $3.75 million each, and the company confirmed that it has already received the first installment.
The fee may be paid in U.S. dollars, Bitcoin, or USD Coin, depending on the client’s preference.
The agreement covers the redevelopment of agricultural land into a low-density residential community in Florida. According to the client, the completed project could reach an estimated stabilized value of around $500 million, subject to independent valuation before token issuance.
OFA Group said it will provide blockchain infrastructure services through its Hearth platform. These services include digital token design, smart contract deployment, blockchain-based registry maintenance, and compliance-related technical support.
However, the company clarified that it will not act as a securities issuer, broker-dealer, investment adviser, or fundraising intermediary.
The company stated that digital tokens issued under the project are intended to represent economic or equity interests in a special purpose vehicle linked to the development, rather than direct ownership of the underlying real estate asset.
Larry Wong, chief executive officer of OFA Group, said the agreement demonstrates the capabilities of the company’s Hearth platform for institutional real estate development projects.
In addition, the company noted that the platform technology fee is not tied to the success of any future token sales or capital raising efforts.
OFA Group has also recently completed an intellectual property restructuring related to its QIKBIM platform. The company acquired a 50% co-ownership interest in the technology platform, which provides operational and commercial control over the asset.
The company also announced changes to its board of directors, including the appointment of Erwin Baquiran Pineda following the resignation of Won Ping Cheng.
The broader real estate sector has seen increasing interest in tokenization models that use blockchain infrastructure to represent ownership or economic interests digitally.
Companies operating in this segment are exploring ways to improve liquidity, access, and transparency in property-related investments through digital asset technologies.
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