Black Lake Tokenizes $25M Mortgages on Provenance Blockchain

According to Nuva Labs, Black Lake Digital Markets and Nuva Labs completed tokenization of $25 million institutional residential mortgages on the Provenance blockchain on April 29. The tokenized assets will serve as collateral for a dedicated vault on NuvaFinance, a decentralized finance platform built within the Provenance ecosystem.

Provenance, a Layer 1 blockchain focused on financial services and real-world asset management, has facilitated over $23 billion in tokenized assets to date. The transaction demonstrates institutional-grade mortgage assets can be brought on-chain while maintaining standards expected by professional investors.