Securitize Signs Dubai VARA MOU to Support Tokenization Market
Summary
- Securitize said it signed a memorandum of understanding (MOU) with Dubai’s Virtual Assets Regulatory Authority (VARA) to foster the tokenization market.
- The two sides said they will cooperate on tokenization projects in Dubai, the issuance and distribution of tokenized financial products, and the development of a tokenization ecosystem.
- Securitize said it manages about $5 billion in tokenized assets and that tokenization is evolving into mainstream financial infrastructure.
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Securitize, a real-world asset tokenization platform, is partnering with Dubai’s Virtual Assets Regulatory Authority, or VARA, to help develop the tokenization market.
Cointelegraph reported on September 3 that Securitize had signed a memorandum of understanding with VARA that day to support tokenization businesses in Dubai and the development of digital-asset infrastructure.
The two sides will jointly review the feasibility of tokenization projects in Dubai, including initiatives involving VARA. They also plan to work together on building a local tokenization ecosystem, attracting talent and conducting data-related research.
The partnership will also cover how tokenized financial products can be issued and distributed within Dubai’s regulatory framework. The effort is intended to combine VARA’s regulatory capabilities with Securitize’s institutional tokenization technology.
"Tokenization is becoming mainstream financial infrastructure, making cooperation with regulators increasingly important," Securitize Chief Executive Officer Carlos Domingo said.
Securitize said it managed about $5 billion in tokenized assets as of last month.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul