Dubai’s VARA and Securitize partner to advance tokenization in the UAE

Dubai’s Virtual Assets Regulatory Authority (VARA) and tokenization platform Securitize have signed a Memorandum of Understanding (MoU) to promote tokenization and digital asset infrastructure in Dubai and the United Arab Emirates. Tokenization is the process of converting real-world assets, like stocks or bonds, into digital tokens on a blockchain.

The agreement aims to create a collaborative framework for regulated tokenization projects, encourage institutional participation, and strengthen Dubai’s digital asset ecosystem, according to a joint announcement.

VARA and Securitize will work together to support tokenization initiatives in the region, including VARA-led projects, to attract talent and explore how tokenized financial products should operate under Dubai’s regulatory framework.

Key details of the partnership

• VARA and Securitize will focus on building a framework for regulated tokenization, not a specific product or technology.
• The MoU follows VARA’s recent issuance of its 50th virtual asset service provider (VASP) license to tokenization platform Tribe Tokenisation FZE in early July.
• Securitize, backed by BlackRock, is the world’s largest tokenization platform, managing $4.9 billion in tokenized assets.

Growing demand for tokenized assets

The announcement comes as demand for tokenized assets rises. According to data from RWA.xyz, the number of tokenized real-world asset (RWA) holders increased by 103% in the past 30 days to 3.2 million, while the total value of tokenized assets grew by 2% to $38.5 billion.

Industry perspective

Carlos Domingo, co-founder and CEO of Securitize, described Dubai as one of the world’s most forward-looking jurisdictions for digital asset innovation. He emphasized the importance of working with regulators as tokenization transitions from a concept to mainstream financial infrastructure.

A VARA spokesperson clarified that the MoU’s primary goal is to combine VARA’s regulatory expertise with Securitize’s institutional tokenization experience to support the development of trusted, regulated tokenized markets in Dubai. No specific projects have been announced at this stage.

Why this matters

The partnership highlights Dubai’s ongoing efforts to position itself as a leader in digital asset regulation and innovation. By collaborating with industry players like Securitize, VARA aims to shape how tokenized financial products are regulated and adopted in the region.

Sources

• Cointelegraph