The biggest buyers of Baltic forest are not crypto startups. In October 2025, Ingka Investments, the investment arm of IKEA’s largest retailer, agreed to buy about 3778,000 acres (153,000 hectares) of land in Latvia and Estonia from Sweden’s Södra for €720 million (about $840 million).
Lauris Borodovskis, CEO of 3Pine Capital, is building a way for investors to own a piece of the same kind of land through tokenization.
In November, his company launched a €7.156 million ($8.3 million) issue of secured tokenized notes backed by Latvian forestry assets.
“We are basically giving access to forest as an asset class,” Borodovskis told TheStreet Roundtable at Token2049 in Singapore.
