Dubai real estate developer MAG and MultiBank reach a US$3 billion asset tokenization agreement "
According to online reports, United Arab Emirates real estate giant MAG signed a US$3 billion real asset tokenization (RWA) agreement with blockchain infrastructure company Mavryk, with the partner being Dubai financial derivatives institution 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 the compliant RWA marketplace at MultiBank.io Talal Mofaq Al Ghaddah, senior executive vice president of MAG, said the real estate assets will be issued as independent RWA tokens on the Mavryk blockchain.
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