Dubai VARA Partners with Securitize for Regulated Tokenization

The Virtual Assets Regulatory Authority (VARA) in Dubai has signed a memorandum of understanding (MoU) with Securitize, a tokenization platform backed by BlackRock. The agreement aims to support regulated tokenization in Dubai and builds on VARA's existing efforts to license virtual asset service providers.

According to the source, this marks a shift towards integrating tokenization into standard financial infrastructure. Carlos Domingo, co-founder and CEO of Securitize, stated that engaging directly with regulators is essential during this transition. The agreement also covers efforts to draw digital asset professionals to Dubai and explore how tokenized financial products can evolve within the emirate's existing regulatory framework.

The total value of distributed tokenized assets has reached $38.5 billion, with a 103% increase in RWA holders over the past 30 days. The MoU creates a framework for Securitize to work with VARA on Dubai's regulated tokenization efforts as financial institutions worldwide explore these products.