365Crypto
Dubai just rolled out the Middle East and North Africa’s first officially licensed tokenized real estate project. It’s a big move in a city already famous for skyscrapers—and now, crypto.
Backed by Big Names
The project is backed by the Dubai Land Department, the UAE Central Bank, and the Dubai Future Foundation. Tokens will be tradable on a new platform called Prypco Mint. Zand Digital Bank is handling the pilot phase.
Only for Locals (For Now)
During this early stage, only UAE ID holders can join in. You can invest as little as 2,000 dirhams (about $545). All deals are in AED. No crypto yet—just old-fashioned fiat.
Real-World Assets Go Digital
On May 19, Dubai’s Virtual Assets Regulatory Authority changed the rules to include “real-world asset” tokenization. That means people can buy and sell tokenized stuff—like real estate—on secondary markets.
Global Plans in the Works
This project started as part of a March initiative to connect Dubai’s property registry to blockchain. The aim? Make it easier for global investors to jump in and make the market more liquid.
UAE Goes All-In on Crypto
The UAE wants to become a crypto capital. Dubai already partnered with Crypto.com to help citizens pay for government services using crypto.
The Future of Real Estate
Tokenized property could be huge. Experts say the global market for real estate tokenization might hit $19.4 billion by 2033. That includes homes, office towers, and warehouses.
Big firms like RealT and Metlabs are already in the game, though regulatory red tape has made things tough for many others.
Footnote:
Tokenization: Converting rights to an asset into a digital token on a blockchain.
RWA (Real-World Assets): Physical assets (like property) represented on-chain.
