Dubai's Virtual Assets Regulatory Authority (VARA) and tokenization platform Securitize have signed a Memorandum of Understanding to advance tokenization and digital asset infrastructure across the United Arab Emirates and Dubai.
The agreement establishes a collaborative framework designed to support regulated tokenization initiatives, foster institutional participation, and strengthen Dubai's digital asset ecosystem. VARA and Securitize aim to support tokenization projects in Dubai while attracting talent and exploring how tokenized financial products should operate under the emirate's regulatory framework.
According to VARA's spokesperson, the MoU's primary objective is to create a broad collaboration framework rather than develop a specific technology or product. The partnership will combine VARA's regulatory expertise with Securitize's experience in institutional tokenization to support the development of regulated tokenized markets in Dubai. No specific projects have been announced at this stage.
Securitize CEO Carlos Domingo highlighted Dubai's position as one of the world's most forward-looking jurisdictions for digital asset innovation, emphasizing the importance of working with regulators as tokenization transitions from concept to mainstream financial infrastructure.
Growing Tokenization Momentum
The announcement coincides with increased demand for tokenized assets. According to data provider RWA.xyz, total real-world asset (RWA) holders rose 103 percent over the past 30 days to 3.2 million, while the total value of tokenized assets increased 2 percent to $38.5 billion in the same period.
Securitize operates as the world's largest tokenization platform with $4.9 billion in tokenized assets under management, followed by Ondo Finance with $3.5 billion.
Tokenization initiatives are gaining traction in other financial hubs. The London Stock Exchange recently partnered with crypto exchange Kraken to launch tokenized stock trading on the exchange's night-time trading venue, offering 24/5 trading access.
