UAE ShipFinex partners with Tokeny to ensure regulatory compliance

UAE ShipFinex partners with Tokeny to ensure regulatory compliance

UAE based ShipFinex, tokenization platform for maritime finance, has announced a strategic partnership with Tokeny, the leading onchain finance operating system specializing in tokenized securities.

As per the announcement, the collaboration aims to transform the tokenization and management of maritime assets, introducing a new era of transparency, security, and compliance in the multi-billion-dollar maritime sector.

ShipFinex will leverage Tokeny’s state-of-the-art technology to ensure that all tokenized maritime assets on its platform adhere to the highest standards of regulatory compliance and security. This integration will utilize the ERC-3643 standard, bolstering investor confidence and setting a new benchmark for digital finance in the maritime industry.

ShipFinex and Tokeny will aim to offer a secure, transparent, and regulated marketplace that opens maritime investments to a broader range of global investors.

The announcement follows ShipFinex’s recent milestone of receiving initial approval from the Virtual Asset Regulatory Authority (VARA) in the UAE.

This partnership with Tokeny further underscores ShipFinex’s commitment to adopting world-class solutions to enhance the security and compliance of its platform. By integrating Tokeny’s robust infrastructure, ShipFinex is well-positioned to lead the digital transformation of maritime finance.

The Saudi headquartered Digital Cooperation organization magazine covers topics on digital assets and tokenization

The Saudi headquartered Digital Cooperation organization magazine covers topics on digital assets and tokenization

The Saudi headquartered Digital Cooperation Organization (DCO), a global multilateral organization committed to enabling digital prosperity for all by accelerating the sustainable and inclusive growth of the digital economy, in its second edition of EconomiX magazine will cover the topics of digital assets, tokenization, and the digital economy. This publication serves as a key platform for knowledge sharing and insightful discussions on the ever-evolving digital landscape.

EconomiX magazine brings together thought leaders from governments, businesses, academia, and international organizations to explore critical topics influencing the global digital economy.

The Digital Cooperation Organization (DCO), an international multilateral organization that aims to promote digital prosperity for all by accelerating inclusive and sustainable growth of the global digital economy, announced in February 2024 that Jordan will hold the organization’s presidency in 2024. Jordanian Minister of Digital Economy and Entrepreneurship Ahmad Hanandeh will be the new chairman of the DCO Council for Digital Collaboration. The announcement was made during the DCO’s third annual General Assembly meeting, which took place in Bahrain attended by heads of delegations, ministers, and representatives from the 16 DCO member countries. The next DCO General Assembly is scheduled for February 2025 in Jordan.

The second issue of EconomiX delves into a range of thought-provoking themes, including empowering women via gender parity and technology, digitalizing women-led MSMEs and facilitating their access to user-friendly e-commerce platforms, equipping entrepreneurs with skills and tools to grow and thrive in the digital economy, digital FDI and the digital investment map, bringing global trade systems under one digital roof, combatting online misinformation, digital assets and tokenization, and deep diving into digital economies of several DCO Member States looking at the key projects, initiatives, and prospects, as well as the challenges they are facing and the opportunities they are leveraging.

“The DCO is committed to bridging the knowledge gap and fostering meaningful dialogue on crucial aspects of the digital economy. EconomiX magazine serves as a catalyst for innovation and collaboration, empowering our readers to navigate the complexities of the digital age and unlock its immense potential. Building on the success of the inaugural issue of EconomiX, this edition dives deeper into critical digital economy trends, offering insightful analysis and expert commentary to empower informed decision-making,” said Manel Bondi, the DCO Chief of Digital Markets Growth and Chief Editor of EconomiX.

This edition features exclusive interviews with prominent figures shaping the digital world, along with insightful articles and case studies that provide actionable guidance for navigating the digital revolution. Readers will gain valuable perspectives on leveraging digital transformation to drive economic and social prosperity.

The launch of EconomiX by DCO comes at a time in Saudi Arabia and GCC region where Web3, blockchain, AI, and digital asset projects are kicking off.

Tokinvest has raised half a million dollars

Tokinvest has raised half a million dollars

Tokinvest, a marketplace for real-world asset tokenization, has raised half a million dollars ($500,000) in pre-seed funding from several strategic investors. This comes weeks after it received preliminary approval for a crypto broker license in Dubai UAE.

Tokinvest is a marketplace that connects real-world asset issuers with investors globally. The advanced platform is noted to simplify the investment process by creating virtual tokens representing rights to assets and providing comprehensive lifecycle services from ideation to trading to asset servicing.

“We believe in Tokinvest’s vision of setting standards in the real-world tokenisation industry. Their approach not only meets the highest legal and compliance levels but also aligns with current demand by providing accessibility to the most desirable assets for all investors. We are thrilled to be part of this exciting growth period for the company,” said Michael Ourabah, CEO at BSO and one of Tokinvest’s strategic investors.

As per the press release, the funds will be used to enhance the platform’s technological infrastructure, expand the team, and accelerate market penetration.

Scott Thiel, CEO of Tokinvest, stated, “We are immensely grateful for the trust and support from our early investors. This funding fuels our technological and operational development and solidifies our strategy to lead in the real-world asset tokenization space. We are excited about the opportunities that lie ahead and are keenly focused on launching our marketplace later this year.”

Tokinvest is seeking to commence other fund raising rounds to scale their operations.

UAE Web3 Inacta partners with Denario to tokenize precious metals

UAE Web3 Inacta partners with Denario to tokenize precious metals

UAE and Swiss Web3 venture builder, Inacta, has partnered with Denario, a Swiss fintech leader in digital precious metals, to advance mission to provide innovative and accessible solutions for precious metals ownership.

The partnership leverages Denario’s expertise in digital precious metals and Inacta Ventures’ leadership in Web3 technology. By combining innovative tokenization of real-world assets with access to Inacta’s broad ecosystem, Denario aims to revolutionize the way people own precious metals.

“With this collaboration, we are pushing Denario on a global scale, giving people innovative access to precious metals,” stated Thomas Winkler, Chairman of Denario. Denario offers a unique asset token providing exposure to physical silver and stability of value.

Ralf Glabischnig, Founder of Inacta Ventures, expressed his enthusiasm: “We are thrilled to integrate Denario into our portfolio. This collaboration will accelerate the development and adoption of tokenized silver worldwide. Not only can we give Denario access to our ecosystems in the UAE and Switzerland, but we will also open access to the token via our platform Tokengate, which specializes in the tokenization of real-world assets.”

Tokengate, an Inacta venture, is at the forefront of asset tokenization in Switzerland. It will support Denario in launching silver coins on various blockchains and facilitating access through a customized application. Recently TokenInvest received a preliminary approval to launch a crypto broker provider in UAE.

UAE Mag group to tokenize $500 million of real estate assets with Mantra Blockchain

UAE Mag group to tokenize $500 million of real estate assets with Mantra Blockchain

UAE based MAG Group Holding a multinational consolidation of different companies and sectors, the group’s portfolio includes real estate, contracting & engineering, industrial & commercial trading, freight services, and hospitality will tokenize $500 million worth of real estate assets with UAE based Mantra a Blockchain Layer 1 RWA ( Real world assets) tokenization platform.

As per a press release, Mantra will tokenize real estate assets in several tranches, while investors will earn yields through stablecoin and OM Tokens. The first tranche will include a residential project, Keturah Reserve, which is being built by MAG in Meydan, Dubai.

The tranche will also package a $75 million mega-mansion at ‘The Ritz-Carlton Residences, Dubai, Creekside’ development.
Investors will earn yield through stablecoins and Mantra’s OM token.

They are expected to have receive yields of 8% from the stablecoins and be granted additional OM tokens.

In June, Zand Bank PJSC, the digital bank licensed by the Central Bank of the UAE, and MANTRA, signed a Memorandum of Understanding (MOU) to streamline the process of real-world asset tokenization, including the identification, listing and distribution of RWAs.

UAE regulated Laser Digital, Nomura’s digital asset subsidiary strategically invested in MANTRA Chain, and prior to that Mantra raised $11 million for real-world tokenization. While the firm is said to be in the final stages of securing licenses from Dubai’s crypto regulator VARA.

Tokinvest receives provisional crypto broker license from Dubai regulator

Tokinvest receives provisional crypto broker license from Dubai regulator

Tokinvest marketplace for real-world asset tokenization, has been granted a provisional broker-dealer license by Dubai’s Virtual Assets Regulatory Authority (VARA).

As per the press release this license underscores Tokinvest’s commitment to compliance and innovation in the real-world asset tokenization industry.

The company will continue to build its scalable and regulated platform that simplifies buying, selling, and managing real-world asset investments. It offers comprehensive services that cover every aspect of the digital token lifecycle, from ideation to trading to asset servicing.

Scott Thiel, CEO of Tokinvest, says, “Obtaining regulated status in the region is crucial for us. It shows our dedication to complying with international standards and establishing robust, transparent processes prioritizing investor protection. Receiving the provisional broker-dealer license from VARA is a significant validation of our mission to create the leading regulated marketplace that connects real-world asset issuers with investors on a global scale. This provisional license sets us on the path to serving our clients with the highest standards of regulatory assurance.”

Tokinvest advisory board includes Ralf Glabischnig Founder of Inacta Ventures, and founder of UAE based Crypto Oasis and Swiss based Crypto Valley. 

He says: “Tokinvest is leading the charge in real-world asset tokenization with a first focus on Middle East. I’m excited to offer my expertise to support their ambitious goals and connect it with our other securitization and tokenization portfolio companies in Europe and beyond.”

Blade Labs joins Qatar’s digital assets lab partnering with The Hashgraph Association

Blade Labs joins Qatar’s digital assets lab partnering with The Hashgraph Association

Blade Labs is a financial technology that tokenizes financial productions and services secure a fintech license at Qatar Financial Center, and admittance to the Digital Asset Lab, as it partners with The Hashgraph Association, a Swiss digital enabler of the Hedera Network, to utilize DLT ( distributed ledger technology) to foster and advance financial services to the masses of the MENA region.

In addition Blade Labs is registering for a Financial Services Regulatory Association (FSRA) license in Abu Dhabi Global Market (ADGM).

Kamal Youssefi, President of The Hashgraph Association, said, “The Hashgraph Association is actively invested in ensuring digital enablement and inclusion, particularly, in the Middle East. Our strategic investment in Blade Labs, which provides innovative fintech solutions in the region, is testimony to our commitment to empowering enterprises with Web3-compliant solutions.

The partnership comes at the heels of two major government-backed Venture Studio initiatives being undertaken by The Hashgraph Association in the region; together, these co-investment ventures are valued at $300 million over the next 5-years.

As part of the collaboration, Blade Labs will provide both a conventional and Shariah compliant Digital Securities Platform to support these investments. The strategic investment and partnership address the growing need for digital transformation solutions required by enterprises to participate in the digital economy, effectively.

Blade Labs is currently focused on providing non-custodial fintech APIs that distribute tokenized funds across multiple jurisdictions in a compliant and user-friendly manner. Tokenizing funds enhances liquidity with real-time settlement, reduces operational costs, and improves collateral management by allowing these funds to be used as collateral across various platforms. These benefits make tokenized funds an attractive option for both traditional and digital-native investors, offering better returns, capital efficiency, and advanced risk management.

“As an investor and strategic ecosystem partner of Blade Labs, The Hashgraph Association’s deep multi-level relationship will enable us to integrate our cutting-edge digital asset solutions with more businesses in the Middle East and beyond. We are also well placed to support the execution of strategic initiatives in the region to grow and empower ecosystems that will help us drive digital transformation.” said Sami Mian, CEO of Blade Labs.

The Hashgraph Association has been at the forefront of key ventures in the Middle East and GCC (Gulf Cooperation Council) region. The first in Saudi Arabia has already commenced this year to build a $250 million DeepTech Venture Studio in Riyadh, in close partnership with the Ministry of Investment Saudi Arabia (MISA), and the second in Qatar aims to build a $50 million Digital Assets Venture Studio in Doha, in collaboration with the Qatar Financial Centre (QFC), with both these partnerships considered long-term and spanning over the next five years. 

Bahrain headquartered Investcorp partners for fund tokenization with Securitize

Bahrain headquartered Investcorp partners for fund tokenization with Securitize

Bahrain headquartered, Investcorp, a leading alternative investment firm, and Securitize, a firm tokenizing real-world assets, have partnered to explore fund tokenization opportunities initially within Investcorp’s Strategic Capital Group (“ISCG”).

ISCG is focused on acquiring minority interests in alternative asset managers (GPs), particularly GPs who manage longer-duration private capital strategies. The group manages approximately $1.5 billion of AUM and has completed 12 investments since its launch in 2019, placing it among the most active GP stakes investors in the industry. ISCG has partnered with mid-sized GPs across buyout, secondaries, structured equity, private credit, and real asset strategies.

“This partnership with Securitize continues Investcorp’s strong legacy as an innovator in alternative investments,” said Anthony Maniscalco, Managing Partner, ISCG. “The use of tokenization technology has the potential to increase efficiencies for investors, and also provides for a new era of accessibility. Through this collaboration, Securitize is bringing access to the GP staking strategy for a wider range of investors.”

“In addition to partnering with Securitize in this breakthrough technology, we look forward to introducing our existing and future GP partners to this ecosystem as part of our broader GP development and value-add toolkit,” said Tim Osnabrug, Partner, ISCG.

According to Securitize, this partnership will enable qualified investors to access interests in GP staking strategy through Securitize’s innovative tokenization technology. In recent years, GP staking has become a highly sought-after strategy as investors seek to capitalize on the growth of private markets more broadly.

“We believe that Investcorp, as a global alternative investment manager, represents some of the most innovative thinking in the market,” said Carlos Domingo, Co-Founder and CEO, Securitize. “By tokenizing alternative assets, we are breaking down barriers and allowing individual investors to participate in opportunities that were previously out of reach. This partnership underscores our commitment to leveraging technology to unlock new financial possibilities.”

The tokenization of funds will be managed by Securitize’s digital transfer agent and offered through its digital asset management arm, Securitize Capital. The tokenized feeder fund will be available for investment on Securitize Markets, the firm’s broker-dealer platform. This partnership highlights the transformative power of blockchain technology in the financial sector, enabling fractional ownership and increased liquidity.

Zand Bank signs MOU with Mantra Blockchain for tokenization of RWAs

Zand Bank signs MOU with Mantra Blockchain for tokenization of RWAs

Zand Bank PJSC, the digital bank licensed by the Central Bank of the UAE, and MANTRA, an RWA-focused Layer 1 blockchain, have signed a Memorandum of Understanding (MOU) to streamline the process of real-world asset tokenization, including the identification, listing and distribution of RWAs.

The collaboration between these two entities will also focus on developing frameworks to support tokenization and distribution of RWA, in compliance with the Virtual Asset Regulatory Authority of Dubai (VARA). The frameworks aim to provide clear guidelines for the tokenization of RWAs, ensuring the process adheres to relevant compliance standards, investor protection measures, and regulatory requirements. In doing so, the collaboration seeks to foster trust, confidence, and widespread adoption of RWA tokenization across the UAE.

The agreement between Zand and MANTRA is a testament to both companies’ position at the vanguard of digital finance in the Middle East. The vision behind the collaboration aims to catapult both the custody and exchange of real world assets as a permanent fixture in the suite of retail banking services in the region, as well as to establish industry standards for tokenization,” stated John Patrick Mullin, CEO of MANTRA

“We are excited to leverage MANTRA’s blockchain, which is purpose-built for RWA to redefine the way we transact and manage ownership as well as transparency. This collaboration represents a step forward in our journey to amalgamate blockchain technology with our robust financial offerings to give our clients greater control over their investments, enhanced security, and more clarity into the lifecycle of their transactions. We aim to simplify operations, reinforce trust and authenticity in the assets’ legality, and broaden access to the wider market.” said Michael Chan, CEO of Zand.

Marvion implements AI Blockchain halal solution in UAE

Marvion implements AI Blockchain halal solution in UAE

USA based Marvion Inc., (OTC:MVNC), a blockchain technology firm has announced the application of its blockchain Halal projects within the UAE utilizing their Digital Ownership Token (DOT) technology framework. The Halal solution includes artificial intelligent modules (AI) to enhance the security framework of the solution.

As per the press release, this initiative marks a major milestone in Marvion’s commitment to utilizing its proprietary technology to create new intangible assets, beginning with Halal certification.

Marvion signed an agreement with a prominent Halal certification provider, marking the first step in its ambitious plan to revolutionize the certification process through blockchain technology. This partnership aims to enhance the transparency, efficiency, and security of Halal certifications, ensuring authenticity and trustworthiness in the market. Halal, which means “permissible” or “lawful” in Arabic, refers to a broad range of regulations that specify what foods Muslims are allowed to eat. These regulations cover not just ingredient lists but also production processes and handling techniques. Certification agencies in this industry evaluate and certify that food items, ingredients, and production processes meet Halal requirements.

“We are thrilled to be breaking new grounds with our blockchain Halal projects,” said Dr Edmond Chan, CEO of Marvion Inc. “Our collaboration with a leading Halal certification provider is just the beginning. By leveraging our cutting-edge blockchain technology, we aim to create a robust and secure system for Halal certification that can be extended to various sectors beyond food. During the past year we have proven and ground tested our blockchain DOT technologies in practical business usage and applications within the movie media industry.”

The introduction of blockchain technology into Halal certification processes is poised to bring numerous benefits, including:

  1. Enhanced Transparency: Blockchain’s immutable ledger ensures that all transactions and certifications are recorded transparently, reducing the risk of fraud and ensuring the integrity of Halal certifications.
  2. Increased Efficiency: By automating certification processes and reducing the need for manual intervention, blockchain technology can significantly streamline operations, saving time and resources for certification bodies and businesses alike.
  3. Improved Security: Blockchain technology provides a highly secure platform for storing and verifying certification data, protecting it from tampering and unauthorized access. By adding artificial intelligent module into our security layer, it can highly prevent anyone trying to breach through our Halal certification, ensuring the highest level of genuine certification provided.

“According to Verified Market Reports, Halal Food Certification Market size was valued at USD 2,339.3 Billion in 2023, and is projected to reach USD 5284.98 Billion by 2030.

As we continue to make inroads in the UAE region, our focus remains on expanding our Halal certification capabilities to include a wider range of businesses,” added Dr Chan. “Our proprietary technology will serve as a foundation for creating new intangible assets, fostering innovation, and driving growth in the Halal market.”