UK fintech MQube has made history by becoming the first company in Europe to tokenize mortgage debt on a blockchain. The firm's lending division, MPowered Mortgages, has placed £1.3 billion in mortgage assets on an EVM-compatible blockchain. This initiative marks a significant step in the tokenization of traditional financial products, potentially transforming the mortgage industry. CEO Stuart Cheetham highlighted the project's potential to modernize traditional lending by streamlining asset transfers, reducing legal work in refinancing, and cutting transaction costs. This development also sets the stage for a blockchain-driven mortgage securitization market, where tokenized mortgage pools could be traded like traditional bonds.