Dubai’s Virtual Assets Regulatory Authority (VARA) and tokenization platform Securitize have signed a Memorandum of Understanding (MoU) to establish a collaborative framework for regulated tokenization initiatives in the United Arab Emirates and Dubai.
The agreement seeks to support institutional participation in tokenized financial products and strengthen Dubai’s digital asset ecosystem, according to a joint announcement. VARA and Securitize will work within Dubai’s regulatory framework to attract talent and explore operational standards for tokenized assets.
Tokenization initiatives have expanded in other financial hubs. Earlier this month, the London Stock Exchange partnered with crypto exchange Kraken to introduce tokenized stock trading on its night-time venue, enabling 24/5 trading.
Securitize, backed by BlackRock, describes tokenization as evolving into "mainstream" financial infrastructure. The company holds $4.9 billion in tokenized assets under management, ranking it the largest platform globally, ahead of Ondo Finance with $3.5 billion.
VARA’s recent licensing activity underscores Dubai’s push for digital asset innovation. In early July, the regulator granted its 50th virtual asset service provider (VASP) license to Tribe Tokenisation FZE.
A VARA spokesperson said the MoU’s primary objective is to create a broad collaboration framework rather than a specific technological product. The agreement will combine VARA’s regulatory expertise with Securitize’s institutional tokenization experience to develop trusted, regulated tokenized markets in Dubai. No specific projects were announced at this stage, but the framework will support relevant initiatives.
Investor demand for tokenized assets has surged, with the number of RWA holders rising 103% over the past 30 days to 3.2 million. The total value of tokenized assets increased 2% in the same period, reaching $38.5 billion, according to RWA.xyz data.
