$3 billion of MAG’s luxury real estate will be tokenized on MultiBank’s platform, powered by Mavryk blockchain and governed by the MBG token.
MultiBank Group, the world’s largest financial derivatives institution based in Dubai, has signed a landmark $3 billion real-world asset (RWA) tokenization agreement with United Arab Emirates (UAE)-based real estate giant MAG and blockchain infrastructure provider Mavryk.
The deal represents the largest RWA tokenization initiative globally to date and highlights the upcoming launch of MultiBank’s native utility token, MBG, according to a press release shared with Cointelegraph.
The partnership will bring MAG’s ultra-luxury real estate projects — including The Ritz-Carlton Residences, Dubai, Creekside and the Keturah Reserve — onto the blockchain via MultiBank.io’s regulated RWA marketplace.
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