DMCC and VARA forge landmark partnership to accelerate tokenisation of commodities

Contributing sentiments towards policy:

59% : Our role at VARA is to ensure that as these new products emerge, they do so in a way that is safe, transparent, and credible, reinforcing Dubai's position as a leader in shaping the future of finance and trade.
59% : This approach is why we are the preferred location for over 26,000 top multinationals and high-impact startups, contributing significantly to Dubai's position as a global hub for trade and innovation.
58% : A series of joint workshops, seminars and awareness initiatives will be delivered to raise institutional and public understanding of tokenisation - including its benefits, risks and regulatory considerations.
55% : About VARA Established in March 2022, following the effect of Law No. 4 of 2022, VARA is the competent entity in charge of regulating, supervising, and overseeing VAs and VA Activities in all commercial zones across the Emirate of Dubai, including Special Development Zones and Free Zones but excluding the Dubai International Financial Centre.
44% : Strategic partnership between DMCC and VARA to develop infrastructure and framework for tokenised commodities, reinforcing Dubai's position as a global digital asset hub Collaboration to include pilot projects for the tokenisation of gold, diamonds and other commodities, alongside joint education initiatives to boost market awareness and investor protection Partnership will see cooperation on aggregated data sharing, sector growth analysis, and contribution to VARA's economic impact reporting using DMCC benchmarks Dubai, UAE: DMCC, the leading international business district that drives the flow of global trade through Dubai, has announced a strategic partnership with the Dubai Virtual Assets Regulatory Authority (VARA) to advance global infrastructure for tokenised commodities.
44% : Matthew White, Chief Executive Officer, Dubai Virtual Assets Regulatory Authority (VARA), said: "Dubai has long been where global trade meets global innovation and tokenisation is the next chapter in that story.
39% : This partnership reinforces DMCC's position as a catalyst for digital asset innovation and the future of global trade.
39% : Media Enquiries: DMCC PR & Corporate Communications pr@dmcc.ae About DMCC DMCC is a leading international business district that drives the flow of global trade through Dubai.

*Our bias meter rating uses data science including sentiment analysis, machine learning and our proprietary algorithm for determining biases in news articles. Bias scores are on a scale of -100% to 100% with higher negative scores being more liberal and higher positive scores being more conservative, and 0% being neutral. The rating is an independent analysis and is not affiliated nor sponsored by the news source or any other organization.