In this episode of the 2Tokens Podcast, Alex Bausch is joined by Pascal de Keyser, founder of Portio, and Jonny Fry, founder of Team Blockchain, to delve into the future of real estate through the lens of blockchain, tokenization, and co-living.
With rising urban loneliness and the lack of accessible housing, Pascal introduces co-living as a community-centric, flexible alternative to traditional rentals. From entrepreneurs to seniors, co-living is gaining traction across Europe and beyond, offering a shared space model that blends private accommodation with communal amenities like lounges, co-working spaces, and gyms.
What makes this unique is the exploration of how tokenization can transform renters into co-owners, giving them a stake in both the rental income and long-term value appreciation of the property they live in. Pascal explains Portio’s rent-to-own model, which allows renters and external investors to acquire fractional ownership through low-cost tokens (starting at €40). These tokens are issued via a securitized vehicle in Luxembourg and are built on the Ethereum blockchain, allowing for high transparency, fractionalization, and potential liquidity through secondary markets.
The conversation also covers:
- The regulatory landscape, including how Pascal’s structure currently operates under Luxembourg’s securitization law and plans to evolve under MiFID II or MiCAR as the platform scales.
- How co-living differs from traditional short-term rentals or Airbnb models.
- Plans to expand beyond Andorra to locations in Spain, Portugal, and Italy — especially cities like Valencia, Barcelona, and Lisbon.
- The role of stablecoins (like USDC) in enabling liquidity and future DeFi integrations such as staking, lending, and collateralization.
- The technological partnership with Blocksquare and the development of a marketplace for property token trading.
This episode offers a fascinating look at a real-world asset use case already coming to life in Europe.
Participants:
Pascal de Keyser: https://www.linkedin.com/in/pascal-de-keyser-121084219/
Alex Bausch: https://www.linkedin.com/in/alexbausch/
Jonny Fry: https://www.linkedin.com/in/jonnyfry/
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