Dubai launches first licensed tokenized real estate project

Dubai has officially taken a major step toward implementing real-world asset tokenization in its rapidly growing cryptocurrency environment.

The project is being carried out in collaboration with the Dubai Land Department (DLD), the Central Bank of the UAE, and the Dubai Future Foundation. Token trading will take place on the new Prypco Mint platform, with Zand Digital Bank serving as the bank for the pilot phase.

Regulatory updates paved the way for trading

On May 19, Dubai’s Virtual Assets Regulatory Authority (VARA) updated its regulations to officially include real-world asset (RWA) tokenization. This has enabled the legal trading of such tokens on secondary markets — a key step toward launching the platform.

New opportunities for investors

During the pilot phase, the project allows individual investors to purchase tokenized shares in completed real estate in Dubai with a minimum investment of 2,000 AED (approximately $545). All transactions during the initial phase will be conducted in the national currency (AED) — without the use of cryptocurrency.

Currently, the program is available only to UAE ID holders, but global expansion is planned for the future.