Dubai real estate developer MAG signs $3 billion asset tokenization deal with MultiBank
2025-05-05 12:15:51
UAE real estate giant MAG has signed a $3 billion real-world asset tokenization (RWA) agreement with blockchain infrastructure firm Mavryk, in partnership with Dubai-based financial derivatives agency MultiBank Group.
Under the agreement, MAG's luxury real estate projects, including Dubai Riverside, Ritz-Carlton Apartments and Keturah Reserve, will be tokenized on the blockchain through MultiBank.io compliance RWA marketplace. Talal Mofaq Al Ghaddah, senior executive vice president of MAG, said the real estate assets will be issued as stand-alone RWA tokens on the Mavryk blockchain.
Under the agreement, MAG's luxury real estate projects, including Dubai Riverside, Ritz-Carlton Apartments and Keturah Reserve, will be tokenized on the blockchain through MultiBank.io compliance RWA marketplace. Talal Mofaq Al Ghaddah, senior executive vice president of MAG, said the real estate assets will be issued as stand-alone RWA tokens on the Mavryk blockchain.
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