Dubai’s real estate market is undergoing a significant transformation, with tokenisation gaining traction. In May alone, property sales processed through blockchain-based platforms exceeded $399 million, which represents 17.4% of the total real estate transactions for the month. This shift towards digitised ownership models highlights a growing trend in the market. The developments in Dubai’s real...
Dubai’s real estate market is rapidly embracing tokenisation, with more than 6 000 individuals joining the waitlist for Prypco Mint, a new platform that enables users to purchase fractional shares of property through secure digital tokens. This innovative approach is revolutionizing how people invest in real estate in the emirate. Credit: WAM The Dubai Land...
Fresh digital asset regulations in the UAE are set to encourage further tokenisation and the introduction of more complex cryptocurrency-related products, according to analysts. Tokenisation involves creating and trading digital tokens that are backed by real-world assets like real estate, gold, or art on a blockchain, facilitating direct and verifiable peer-to-peer transactions. Dubai’s crypto regulator,...
The Dubai Financial Services Authority (DFSA) has announced the opening of its Tokenisation Regulatory Sandbox, inviting firms to express their interest in participating. This initiative aims to support companies looking to offer tokenised investment products and services within the Dubai International Financial Centre (DIFC). Firms have until April 24 to submit their Expressions of Interest....
DAMAC Group has joined hands with blockchain firm MANTRA in a groundbreaking move to tokenise $1 billion worth of real-world assets. The partnership aims to bring blockchain technology into the Middle East’s real estate market, offering new opportunities for investors through fractional ownership and easier access to high-value properties. The initiative will focus on token-based...