Avalanche Blockchain Tokenizes $240 Billion in New Jersey Real Estate, Pioneering Mass Adoption

Avalanche is spearheading a revolution in real estate management with the tokenization of over $240 billion in property value in Bergen County, New Jersey. This landmark project, facilitated by Balcony, dramatically reduces property settlement times from an average of 90 days to just one day, while simultaneously bolstering security against fraud and potentially recovering millions in lost tax revenue.

The Largest Blockchain Deed Tokenization in U.S. History

The initiative, first announced in May 2025, represents the largest blockchain deed tokenization project in U.S. History, encompassing over 370,000 parcels across Bergen County’s 70 municipalities. Avalanche’s infrastructure, coupled with Balcony’s software, aims to establish a new standard for resilience in the public sector. While Bergen County is the initial focus, the project is already expanding to other areas of New Jersey, including Camden, Orange, Morristown and Fort Lee.

How Tokenization is Transforming Property Records

Balcony is utilizing Avalanche’s high-speed, low-cost, and customizable technology stack to bring deed records on-chain. Powered by AvaCloud, Balcony has launched a scalable, purpose-built Avalanche Layer 1 (L1) to meet the performance and security demands of large public institutions. Tokenization involves converting real-world assets – in this case, property ownership records – into digital records stored on a blockchain, making them immutable, searchable, and tamper-proof.

Benefits of Blockchain-Based Property Records

• Reduced Settlement Times: Deed settlement times are slashed from 90 days to just one day.
• Enhanced Security: The system protects against cyberattacks like ransomware, which impacted 23 New Jersey municipalities in 2023, costing up to $1 million per incident.
• Recovered Revenue: In Orange, New Jersey, the Balcony platform has already identified nearly $1 million in lost tax revenue due to outdated records.
• Increased Transparency: Digitized records provide secure, instant access to vital property documents for county staff and residents.

Expanding Beyond Bergen County: $290 Billion in Assets

The project’s scope extends beyond Bergen County, with over 460,000 properties, representing an estimated $290 billion in value, slated to move to the blockchain. This interconnected network of state systems promises more transparent governance and data-driven decision-making.

Market Impact and AVAX Price Action

The agreement, initially revealed last May, is attracting institutional attention and positioning Avalanche as a leader in the tokenization of real-world assets (RWAs). AVAX, Avalanche’s native token, has experienced a bullish trend, with whales accumulating positions in both spot and futures markets. As of March 10, 2026, AVAX saw a 6% increase in 24 hours, trading around $9.89 . However, the token remains over 90% below its all-time high of $144.9 in 2021. AVAX is approaching the 50-day exponential moving average, which will act as a key resistance level.

Industry Leaders Weigh In

Gregg Lester, President of Balcony, emphasized the importance of property registries as the foundation of trust between governments and communities. John Hogan, Bergen County Clerk, highlighted the initiative’s potential to improve the lives of residents by simplifying, accelerating, and securing property record management.

This partnership signifies a major step towards the widespread adoption of blockchain technology in public infrastructure, demonstrating the potential of blockchain to move beyond speculation and into practical applications within traditional finance.