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The project expands on the Dubai Land Department\u2019s other RWA tokenization initiatives, including one involving the real estate registry.<\/p>\n
Dubai has launched the first licensed tokenized real estate project in the Middle East and North Africa (MENA) region, previewing app<\/a>etite for real-world tokenization in one of the world\u2019s burgeoning crypto hubs.<\/p>\n Partners in the project include the Dubai Land Department (DLD), the Central Bank of the United Arab Emirates, and the Dubai Future Foundation, according to an announcement<\/a> from the Dubai government. The tokens will be tradeable on the newly launched \u201cPrypco Mint\u201d platform, with Zand Digital Bank appointed as the bank for the project\u2019s pilot phase.<\/p>\n On May 19, Dubai\u2019s Virtual Assets Regulatory Authority (VARA) updated its rules to include real-world asset (RWA) tokenization, allowing such tokens to be traded on secondary markets.<\/p>\n Read more<\/p>\n<\/p>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n