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Dubai MoU for Tokenization
Dubai’s Virtual Assets Regulatory Authority (VARA) and BlackRock-backed tokenization platform Securitize signed a Memorandum of Understanding (MoU) to advance tokenization and digital asset infrastructure across the United Arab Emirates and Dubai.
“VARA and Securitize signed an MoU to foster more tokenization innovation in Dubai”
The MoU will establish a collaborative framework to support regulated tokenization initiatives, foster institutional participation, and strengthen Dubai’s digital asset ecosystem, the companies said in a Thursday announcement shared with Cointelegraph.
VARA and Securitize said they aim to support tokenization initiatives in Dubai, including projects initiated by VARA, to attract more talent and explore how tokenized financial products should operate under Dubai’s regulatory framework.
A VARA spokesperson told Cointelegraph that the MoU’s main goal is to create a broad framework for collaboration between the two firms, rather than a specific technological stack or product.
The agreement also comes as VARA granted its 50th virtual asset service provider (VASP) license to tokenization platform Tribe Tokenisation FZE at the beginning of July.
Regulator-Company Collaboration
In explaining the intent behind the MoU, a VARA spokesperson told Cointelegraph that the approach is meant to combine VARA’s regulatory perspective with Securitize’s experience in institutional tokenisation.
The spokesperson said: "The intention is to combine VARA's regulatory perspective with Securitize's experience in institutional tokenisation to identify where collaboration can help support the development of trusted, regulated tokenised markets in Dubai."
The same spokesperson added that there won’t be any specific projects announced "at this stage" of the MoU, but the agreement will provide a collaborative framework to "support relevant tokenisation initiatives in Dubai."
DiarioBitcoin’s coverage similarly described the MoU as a framework for collaboration that does not yet announce a specific product or project, and it said the document defines a general framework for regulators and the company to exchange knowledge.
TradingView also framed the MoU as a step to boost innovation in tokenization in Dubai, while noting that no specific projects would be announced "at this stage".
Tokenized Assets, Institutional Stakes
The MoU arrives as investor demand for tokenized assets rises, with Cryptonews.net citing data provider RWA.xyz showing total RWA holders rising 103% in the past 30 days to 3.2 million.
“total RWA holders rise 103% in the past 30 days to 3.2 million”
Cryptonews.net also said the total value of tokenized assets rose 2% to $38.5 billion in the same period, and it ranked Securitize as the world’s largest tokenization platform with $4.9 billion in tokenized assets under management (AUM).
Ondo Finance was listed as second with $3.5 billion, while the same coverage described Securitize as moving tokenization toward “mainstream” financial infrastructure.
Carlos Domingo, co-founder and CEO of Securitize, said Dubai emerged as one of the “world’s most forward-looking jurisdictions for digital asset innovation,” and he emphasized the importance of collaborating with regulators as tokenization moves from “concept to mainstream financial infrastructure.”
DiarioBitcoin added that the agreement also contemplates education, talent, data-driven research, and the development of the virtual assets ecosystem, while stating the MoU does not establish a concrete technology platform nor announce the immediate launch of a fund, an exchange, or a new token.