Dubai Paves Way for Tokenized Assets with VARA-Securitize Partnership
Dubai's Virtual Assets Regulatory Authority (VARA) and tokenization platform Securitize have signed a Memorandum of Understanding (MoU) to advance tokenization and digital asset infrastructure in the UAE.
The agreement will establish a collaborative framework to support regulated tokenization initiatives, foster institutional participation, and strengthen Dubai's digital asset ecosystem, according to VARA and Securitize. The MoU aims to combine VARA's regulatory perspective with Securitize's experience in institutional tokenization to identify areas for collaboration.
VARA has granted 50 virtual asset service provider (VASP) licenses to date, including one to Tribe Tokenisation FZE at the beginning of July. The total value of tokenized assets rose 2% to $38.5 billion in the past 30 days, while the number of RWA holders increased by 103% to 3.2 million.
Securitize ranks as the world's largest tokenization platform with $4.9 billion in tokenized assets under management (AUM). The partnership follows increasing investor demand for tokenized assets and comes as London Stock Exchange partnered with crypto exchange Kraken to launch tokenized stock trading.