There are chips that support this protocol:

https://www.qorvo.com/products/p/DW3110#parameters

Using all those pieces, it's possible to build a credit card size thin tracker that doesn't bulge the wallet like AirTag.

Who is building this? If you have the expertise in the field can you help me understand what it takes to build this?

[1] https://developer.apple.com/nearby-interaction/specification/