UAE government focuses on impact of data centers on energy sector

UAE government focuses on impact of data centers on energy sector

The UAE National Team for Reviewing the Impact of Data Centers on the Energy Sector recently held its first meeting at the Dubai headquarters of the Ministry of Energy and Infrastructure (MoEI) to explore the development of data centers in the UAE and their influence on the local energy sector.

According to a recent Research and Markets report, the United Arab Emirates Data Center Market was valued at USD 1.26 billion in 2024, and is expected to reach USD 3.33 billion by 2030, rising at a CAGR of 17.58%.

Global cloud providers such as Microsoft, Amazon Web Services (AWS), Oracle, and Alibaba are establishing and expanding their operations in the UAE data center market. AWS continues to grow its cloud footprint, capitalizing on the expanding digital economy of the country, while Microsoft has expanded its cloud operations in both Abu Dhabi and Dubai. The UAE data center market is primarily dominated by regional operators, including Khazna Data Centers, Gulf Data Hub, Moro Hub, and du. The global operator Equinix also has a significant presence in the market. The UAE data center market is also witnessing several new entrants which include Quantum Switch Tamasuk and Pure Data Centres, with Khazna Data Centers holds the highest market share of over 59% in the UAE as of H1 2024.

Given the oncoming growth in datacenter market in the UAE, the UAE National team meeting, highlighted the challenges facing data centers and ways to make them more sustainable, in addition to the importance of adopting global best practices to ensure the efficient operation of these centers.

Attending the meeting was His Excellency Eng Sharif Al Olama, Undersecretary for Energy and Petroleum Affairs at MoEI, His Excellency Eng Saif Ghubash, Assistant Undersecretary for Petroleum, Gas, and Mineral Resources at MoEI, in addition to members of the team which comprises representatives of MoEI, the Ministry of Industry and Advanced Technology, the Ministry of Climate Change and Environment, the Telecommunications and Digital Government Regulatory Authority, the Artificial Intelligence, Digital Economy, and Remote Work Applications Office, Abu Dhabi Digital Authority, Digital Dubai Authority, Digital Sharjah Authority, Sharjah Digital Department, Department of Digital Ajman, the Electronic Government Authority of Ras Al Khaimah, Smart Umm Al Quwain Department, and Fujairah Digital Government.

The team will be responsible for analyzing and reviewing the impact of data centers on energy demand, evaluating the local market and projected economic return for this key sector as well as, identifying all data centers in the country and classifying them according to specific standards. The team will also be conducting a geographical study of the distribution of current and future data centers in the country to ensure optimal infrastructure distribution, performing benchmark comparisons to review global best practices in data centers, and working on developing a federal policy aimed at regulating the operation of local data centers.

During the meeting, His Excellency Eng Sherif Al Olama said, “The formation of the UAE National Team for Reviewing the Impact of Data Centers on the Energy Sector comes as part of the country’s strategic directions towards digital transformation and enhancing sustainability in the energy sector. It is expected to contribute to the development of policies and regulations that support the sustainability of the sector and maintain the competitiveness of the UAE in the field of digital infrastructure.

He noted the need to develop innovative solutions to ensure a balance between the demands of technological development and the sustainability of energy resources, in alignment with the national goals in the field of energy and sustainability.

He also highlighted the importance of establishing a comprehensive framework that includes analytical studies and clear recommendations based on accurate data, which will contribute to making strategic decisions capable of achieving the country’s energy goals, particularly in clean and renewable energy.

This comes as Roland Berger’s recent report ” Who Pays For Tech” discusses the fact that addressing the energy challenge requires regulatory measures, technological innovation, and appropriate cloud processing pricing. Enforcing energy efficiency regulations, deploying new cooling and computing technologies, and leveraging AI to optimize data center operations will be crucial in balancing technological progress with environmental sustainability, ensuring that digital services do not impose unsustainable costs on the planet.

UAE set to launch XRG energy investment company

The UAE government is also working on its energy needs with the launch of XRG, an international energy investment company that will focus on projects across the spectrum, from gas to chemicals to low carbon fuels to energy infrastructure. The energy investment company was launched by ADNOC in November 2025 with the aim to have $80 billion in assets under management by 2035.

XRG was launched by Dr. Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, Chairman of Masdar and ADNOC. He noted at the time that global energy demand is set to rise dramatically, increasing from 9,000 GW to 15,000 GW by 2035 and potentially reaching 35,000 GW by 2050—a staggering 250% increase. The rise of AI applications like ChatGPT, which consumes ten times the energy of a single Google search, is accelerating this trajectory.

Without diversified energy solutions, meeting this demand sustainably will be nearly impossible. XRG hopes to address this by optimizing energy production and usage across the spectrum—from traditional fuels to low-carbon alternatives and advanced infrastructure.

It is estimated that global spending on construction of new data centers is expected to surpass US$49 billion by 2030 (source: MicKinsey & Company). With over US$1.0 trillion funding gap in renewable energy, it is believed to be an opportune time to lay the groundwork to power the advancement of compute infrastructure for a vibrant digital economy.

HODLER Investments and EHC Investment create NEXGEN to supply critical energy infrastructure

HODLER INVESTMENTS, a UAE based investment company, headquartered in the Dubai, which includes in its portfolio energy, AI, and digital asset mining startups such as PermianChain, Brox Equity and others; and Abu Dhabi’s EHC Investment which leads multiple businesses with operations and investments across the energy, infrastructure, firefighting technology and system integration services signed a strategic partnership to launch NEXGEN.

NEXGEN aims to support the creation of a compliant digital energy market to supply critical energy infrastructure that will monetize wasted energy such as flared gas in the UAE, KSA, and Egypt for hosting global data center operators, reducing carbon emissions and contributing the Digital Energy Infrastructure (DEI) Fund, a local decarbonization innovation fund.

The strategic partnership with EHC Investment comes after HODLER announced its ongoing plans for a $500 million Digital Energy Infrastructure (DEI) Fund with the participation of UAE based GEWAN holding. The DEI will be established as a closed-ended Fund, subject to compliance and regulatory approvals. The DEI Fund has already secured soft commitments from lead investors and in-kind contributions in addition to offtake partners seeking energy and connectivity for A.I. and digital asset mining operations.

UAE Everdome and Immerso join forces for metaverse entertainment experience

UAE Everdome and Immerso join forces for metaverse entertainment experience

UAE Everdome, interactive metaverse experience creators, and Immerso, an Eros Innovation company- home to Eros Media and Eros Now, and a global leader in AI innovation and intellectual property (IP), have joined forces to enrich metaverse entertainment experience.

As per the press release, the partnership combines Immerso’s exceptional IP portfolio, featuring an extensive library of over 12,000 film titles, with Everdome’s immersive technology. Together, they aim to transform how audiences engage with entertainment in the digital era. The initial focus will be on integrating Indian cinema’s vast library of films, stars, directors, and influencers into immersive virtual worlds, together, Immerso and Everdome will offer audiences entirely new ways to connect with entertainment.

Backed by Eros Innovation, Eros Media World boasts a 30% market share in the Indian film industry, selling 2.7 billion tickets annually and reaching a global audience in the billions. This partnership unlocks the potential to become the world’s largest film market for metaverse engagement.

Jeremy Lopez, CEO of Everdome, commented, “This partnership propels Everdome’s vision to merge the metaverse with AI tools and intellectual property, setting the stage for the creation of interactive, metaverse-native IP experiences for brands on a global scale. With nearly 50 years of Bollywood history under their belt and a strong commitment to the metaverse and immersive computing, Immerso is the perfect partner as Everdome steps into its next chapter.”

Swaneet Singh, CEO of Immerso added, “We firmly believe in the transformative potential of virtual experiences and Web3 in reshaping the way users connect. By combining immersive experiences with AI-powered hybrid content and user-generated creation, we’re opening up new possibilities – and we are thrilled to be at the forefront of this innovation alongside Everdome.’’

Immerso is positioned to lead large-scale innovation in AI, entertainment, and the metaverse. As one of the first AI Intellectual Property (AIIP) companies, Immerso owns over a trillion AI tokens and has trained models across all LLM platforms. This foundation, coupled with initiatives such as establishing India’s first AI Park and a billion-dollar investment in a Malaysian AI park and film studio, showcases Immerso’s commitment to pushing the boundaries of digital experiences.

Everdome, recognized for its expertise in creating immersive and accessible digital experiences, is bringing real use cases and larger audiences to the metaverse. With a proven track record of collaborations with global brands like the Alpine Web3, and Binance Fan Token Everdome is well-versed in bringing established IPs to life in new and engaging ways.

UAE Ministry of Energy to use Shiba Inu decentralized operating system

UAE Ministry of Energy to use Shiba Inu decentralized operating system

The UAE Ministry of Energy and Infrastructure (MoEI) has partnered with Shiba Inu, whose official mascot is DogeCoin, to advance Web3 solutions in energy infrastructure using Shibu Inu’s decentralized operating system.

As per a press release on UAE Ministry of Energy website, the partnership will leverage Shiba Inu’s broad range of Web3 technologies to support public service efficiency, green infrastructure enhancements, and citizen-focused governance models. Shiba Inu’s Operational System (ShibOS) will unify development across MoEI operations.

As per Shiba Inu website, the next gen operating system delivers turnkey solutions for Web2 to Web3 transitions. The Shib Alpha Layer
is a modular rollup abstraction layer for ultra-fast transactions, achieving sub-100ms finality and high TPS to power a global network state. While the FHE-Powered Identity Stack offers a privacy-first on-chain solution providing verifiable credentials and one-time KYC, secured by fully homomorphic encryption.

H.E. Engineer Sharif Al Olama, Undersecretary for Energy and Petroleum Affairs at MoEI, noted that the partnership is a pivotal moment in their journey to redefining governmental services. He added that the Ministry aims to deliver transformative solutions that benefit both citizens and the wider community with sustainability, connectivity and digital excellence.

Shytoshi Kusama, Lead Visionary for the Shiba Inu team, added “We’re thrilled the Ministry sees Shiba Inu as a cornerstone for next-generation infrastructure.” He believes this showcases the power of Shiba Inu in delivering groundbreaking solutions.

The UAE government launched its Blockchain Strategy 2021 back in 2018 to capitalize on Blockchain technology and transform 50% of government transactions. The UAE government had expected that this strategy would save more than $3 billion in transactions and document processing, $108 million in printed documents annually, and 77 million work hours.

In January 2025, MarkNtel Advisors noted that the blockchain industry in the UAE is experiencing remarkable growth, with an annual rate of 42%.

Over the past week, blockchain initiatives have seen renewed momentum, with significant developments such as the UAE KYC Blockchain platform, led by the Dubai Department of Economy and Tourism (DET) and powered by Norbloc Blockchain, welcoming its first insurance member, Etihad Credit Insurance (ECI).

Recently, the Dubai Integrated Economic Zones Authority (DIEZ) and the Dubai Land Department (DLD) have joined forces to promote the use of modern technologies, including artificial intelligence (AI) and blockchain, within the real estate and property technology (Proptech) sectors.

This all comes as Elon Musk was reported to be considering using blockchain technology at the Department of Government Efficiency (DOGE) to track Federal government spending. Blockchain might be used to monitor federal spending, make payments, secure data and manage government buildings.

DOGE’s goal is to update federal software and technology to boost efficiency and productivity within the federal government.

UAE Tokinvest and InvestaX have partnered to deliver tokenized asset offerings

UAE Tokinvest and InvestaX have partnered to deliver tokenized asset offerings

Tokinvest, a market-leading real-world asset investment platform based in Dubai, and InvestaX, a leading tokenization platform based in Singapore, have partnered to enhance global accessibility to asset-backed and rights-linked virtual assets. The two entities will deliver an end-to-end solution for token offerings and secondary market trading across two markets that are global leaders in supporting the adoption of real-world asset tokenization.

The collaboration between Tokinvest and InvestaX will provide a seamless dual-market solution for real-world tokenized assets.  This includes structuring and creating virtual assets, issuing tokens in the primary market, raising capital, and facilitating liquidity and secondary market trading. The partnership leverages both companies’ complementary regulatory licenses and market reach: Tokinvest as a leader in the Middle East and InvestaX as a pioneering platform in Asia.

“Through this partnership, we are uniting two strong forces in the virtual assets world to bring greater access, efficiency, and liquidity to investors and asset owners,” said Scott Thiel, CEO of Tokinvest. “Our shared vision is to enhance the global ecosystem of tokenized assets and provide robust solutions for those looking to invest in the digital future.”

Julian Kwan, Co-Founder & CEO of InvestaX, added: “We’re excited to collaborate and bring Singapore and the UAE closer together through this partnership. We already have several projects in the pipeline, and we’re eager to launch them and contribute to the growth of this industry.”

Tokinvest has been increasing its partners over the past few months

Just last week, Tokinvest, and German based StegX, a platform for tokenized real assets based in Germany, have partnered to bridge tokenization between UAE and Germany. StegX has been collaborating with entities to bridge tokenization solutions with Singapore, and Latin America.

Additionally Tokinvest expanded its collaboration with Universal Digital Payments Network (UDPN) to launch a Tokenized Deposit and Stablecoin Management System.

Klickl and IMKAN Properties to convert crypto into AED for real estate transactions

Klickl and IMKAN Properties to convert crypto into AED for real estate transactions

While the UAE Central Bank has made it clear that crypto cannot be used as a legal tender for the purchase of goods and services inside the country, while AED stablecoins can be, real estate investors and buyers can still utilize cryptocurrencies for real estate purchases with Klickl and IMKAN Properties which has 26 properties across two continents.

Klickl, the Web3 financial platform out of the UAE, will be able to help IMKAN offer international investors with secure, fast and flaxible options of alternative payments in high value sector such as real estate. Klickl will offer cryptocurrency payment processing system.

“Our collaboration with IMKAN aligns with our mission to extend the benefits of Web3 technologies into everyday business transactions,” said Michael Zhao, CEO of Klickl. “From cross-border remittances to real estate investments, digital currencies offer an unmatched level of convenience, transparency, and efficiency. By supporting IMKAN’s customers with both crypto payment acceptance and fiat conversion, we are creating a model that other real estate companies can adopt to attract a new generation of buyers.” He went on to say.

The collaboration will allow IMKAN to offer its clients the option of converting cryptocurrencies, including Bitcoin, Ethereum, and stablecoins like USDT for use to invest in premium real estate . With these options, both local and international buyers gain greater flexibility, avoiding the complexities and delays that often come with cross-border bank conversions.

One of the key drivers behind this initiative is the increasing number of international investors in UAE real estate. The ability to use digital currencies for conversion will streamline transactions for overseas buyers, especially those in emerging markets or regions with less-developed banking infrastructure.

“Crypto is more than a payment method—it’s a financial tool that enables us to operate more efficiently across borders,” Zhao explained. “Our goal with IMKAN is to offer this technology to its customers in a way that enhances liquidity and supports business continuity, providing real estate developers with the financial stability they need to grow.”

Klickl’s platform will be offered seamlessly with IMKAN’s existing sales and payment systems. Buyers will experience a straightforward process where cryptocurrency payments can be made through a secure platform, and all necessary regulatory checks will be conducted automatically.

Klickl will ensure that all transactions are compliant with UAE regulations. From Know Your Customer (KYC) protocols to anti-money laundering (AML) compliance, the platform incorporates best-in-class security features to protect both IMKAN and its clients.

“We are committed to maintaining the highest levels of security and compliance,” Zhao emphasized. “Every transaction will go through rigorous checks to ensure it meets regulatory standards, so our partners and their customers can transact with confidence.”

The long-term vision includes expanding the use of digital finance tools across IMKAN’s full range of projects, from luxury residential developments to large-scale commercial properties.

“The UAE is rapidly emerging as a major crypto hub driven by the region’s welcoming regulatory environment and its proactive approach to supporting the digital asset sector. As one of the nation’s leading real estate developers, IMKAN is proud to play a decisive role in revolutionizing real estate transactions by embracing cryptocurrency for property investments. Together with Klickl, we are helping to ensure that the UAE will remain a leader and not a follower in digital currency proliferation,” said Engineer Suwaidan Al Dhaheri, CEO of IMKAN Properties.

“This collaboration demonstrates how blockchain and digital assets can bring real value to traditional industries,” said Zhao. “It’s not just about following trends; it’s about using these technologies to solve real-world challenges and unlock new opportunities. We see the potential for this model to reshape not only real estate but also other sectors where high value transactions are common.”

WadzPay Blockchain crypto entity no longer licensed in UAE

WadzPay Blockchain crypto entity no longer licensed in UAE

WadzPay, a blockchain technology and financial services company that had applied and had received a VASP license pending further operational requirements in Dubai UAE, via the Dubai Virtual Assets Regulatory Authority, has been delisted from VARA’s public registry, which implies that WadzPay is no longer a regulated entity in Dubai UAE. Reasons behind this are not unclear given the efforts WadzPay had made over the years to received this license, yet on VARA website it shows that the license has been withdrawn.

This comes months after WadzPay in November of 2023, had announced it secured a capital commitment of $50 million SGD in the form of a Share Subscription facility from GEM Global Yield (GEM). The SSF as noted in that press release, was supposed to accelerate the company’s growth strategy via acquisitions, partnerships and organic initiatives.

The agreement established a Share Subscription Facility granting WadzPay the option to call upon GEM to subscribe for Ordinary Shares up to a total value of SGD 50 million (approximately USD 36.7 million) upon a successful public listing for a thirty-six-month period.

WadzPay had received a VASP license for crypto brokerage under pending status back in February 2024. Yet until now it was still pending. In November Anish Jain, Founder and CEO, noted that the company opened its Dubai offices back in 2022, citing that a main attraction of Dubai was its supportive regulatory environment.

WadzPay “bridges the gap between fiat currencies and virtual assets,” according to Anish Jain, founder and CEO.

Moreover Jain had described the license, – issuance of which is subject to meeting pre-operating requirements and qualifications – as a “pivotal advancement for WadzPay… enhancing trust and credibility among stakeholders viewing Dubai as a launchpad for global ambition.”

It would seem that this ambition has faded for WadzPay.

Bahrain Ministry of Justice launches Blockchain notarization platform

Bahrain Ministry of Justice launches Blockchain notarization platform

Bahrain Ministry of Justice has announced the launch of its Blockchain remote visual notarization system in collaboration with the Information and eGovernment Authority (iGA).

As per the press release, the initiative aligns with Bahrain’s Economic Vision 2030, expanding the private sector’s role while the Ministry of Justice overseed licensed private notaries.

Nawaf bin Mohammed Al Maawda, Minister of Justice, Islamic Affairs, and Endowments, announced this stating, ” Private notaries will receive training from the Judicial and Legal Studies Institute, with access requiring electronic key authentication.” The minister urged users to register for government notifications via bahrain.bh, as registered details will be used for service access.

Al Maawda reaffirmed the ministry’s commitment to digital transformation, introducing the service gradually for specific transactions through a blockchain powered platform ensuring confidentiality, authenticity, and fraud prevention, including digital signature verification.

In the UAE as well in 2024, DIFC ( Dubai International Financial Center) and Swiss The Hashgraph Association also announced, a digital Notary Service, which will be the notarizing English documents only and is the first-of-its-kind service in the UAE. The service will provide three (3) options for users; an automated self-service; a live virtual system; and an in-person service. Users of the service will also have the option to utilize an authentication service through primary source verification (PSV).

29 percent of Middle East Wealth owners see crypto asset wealth transfer as a problem

29 percent of Middle East Wealth owners see crypto asset wealth transfer as a problem

As the popularity of crypto rises not only globally but in the UAE, a recent DIFC Innovation Hub, Julius Baer, and Euroclear report entitled “Navigating the Future of Inheritance” found that one of the most problematic assets to transfer as part of inheritance is crypto assets.

According to the report 24% of global wealth owner respondents cited crypto assets as problematic during the transfer process, while in the Middle East region, it was higher at 29%. The typical HNWI’s ( High Net Worth Individuals), estate is spread across more accounts and more documents globally than ever, many of which lie outside of the core responsibilities of the region’s wealth managers.

This is interesting especially given that The United Arab Emirates ranked fifth for crypto adoption worldwide, with the largest percentage of the population holding crypto at 30.4% (The average across all countries is 3%).


The Navigating the Future of Inheritance report addressed the complexities of inheritance at a time when the region stands on the verge of a historic transition of USD 1trn (AED 3.67trn) in wealth to heirs and extended family members. This includes High Net Worth individuals in the United Arab Emirates who have seen their assets grow by 20 percent to reach USD 700bn in value since 2022.

The report discussed how smart contracts can automate trust deeds administration with streamlined client onboarding at trigger events such as birthdays or deaths. In addition by tokenizing assets wealth holders could standardize and streamline the administration of all their holdings into a single digital portfolio with safe custody and better access to financing.

It would also ensure the HNWI’s had control over their data which was also something important to them, improving their data privacy and confidentiality. Tokenization could allow each individual’s data item to be separately permissioned – so that any one organization can see only what the original wealth holder wants them to see.

Smart Contracts for example would allow wealth holders to define their own administration and reporting rules especially with high complexity of tax and jurisdictional rules which is an issue for 81% of respondents in the survey. The use of smart contracts can be used to drive greater programmability of data and processes – and therefore reduce costs and complexity for investors and their wealth
managers.

In addition with 14% of respondents in the report struggling to define and document asset ownership, digital identity and tokenization would be able to create digital records with information on history, ownership and updates. The report notes that recent pilots in Europe have demonstrated that permissioned tokens can directly link Know Your Customer (KYC) information to securities investments, creating self-contained units of information that facilitate streamlined processing and verification.

Another issue that needs to be address is security. According to the report tokenized security records are both immutable and traceable which is a requirements for 14% of respondents who are struggling to verify the authenticity of assets.

Instant transfers for example is a requirement of 50% of respondents and 62% of non shariah wealth holders who usually have to wait over 6 months to transfer their assets today.

Finally, the report notes the potential benefits of tokenization appear equally apparent. In removing obstacles to proper estate planning and in smoothing the execution of wealth transfers, a new, industry platform could reduce costs and improve transparency, thereby delivering a range of social benefits that extend for generations.


More transparent wills would mean less pressure on existing family decision structures. Lower costs would mean greater access to inheritance beyond only HNWIs. Most of all, a tokenized ecosystem for inheritance could avoid unnecessary stress on family structures and ensure that more wealth is preserved for generations to come.

This will need more clarity on the rules that govern how digital assets can be recognized, and used, the the legal validity of electronic wills, stored as smart contracts; and how the rights of investors using tokens can be protected – across multiple jurisdictions where assets may be held and / or transferred.

Kaia DLT Foundation registered in UAE integrates Fireblocks

Kaia DLT Foundation registered in UAE integrates Fireblocks

Kaia, the DLT Foundation registered in ADGM in Abu Dhabi UAE has integrated Fireblocks, an enterprise platform to manage digital asset operations and build innovative businesses on blockchain.

As per the press release, the collaboration enables institutions to securely manage and transfer assets on the Kaia blockchain network, offering enhanced capabilities in tokenization, DeFi, and blockchain-based financial products. Fireblocks brings improved operational efficiency, reduced asset management risk, and simplified regulatory compliance to the Kaia blockchain ecosystem.

Kaia utilizes Fireblocks’ institutional-grade digital asset infrastructure for secure asset management, including leveraging Fireblocks’ Multi Party Computation (MPC) wallet technology for distributed private key management and end-to-end security, minimizing hacking risks. Kaia also leverages Fireblocks for extensive digital asset support and its API integration capabilities.

Kaia was formed through the merger of the Klaytn and Finschia blockchains initially developed by Kakao and LINE respectively. It aims to bring Web3 to the fingertips of hundreds of millions across Asia.

Ledger crypto wallet now a validator for UAE based Mantra Blockchain

Ledger crypto wallet now a validator for UAE based Mantra Blockchain

Ledger, crypto wallet hardware provider, have joined UAE based Mantra Layer1 Blockchain as one of the validators.

As per the blog post, Mantra noted, “We’re thrilled to announce that Ledger has joined MANTRA as a Validator, strengthening our network security and further decentralizing our governance process. MANTRA has also integrated with Ledger Live, allowing Ledger to support MANTRA Chain natively for all Ledger devices and enable users to manage and stake their $OM directly through the platform.”

The MANTRA Mainnet for real world asset tokenization launched in October 2024 with validators playing a crucial role in operating a blockchain, ensuring efficient and secure transactions, and upholding sound governance.

MANTRA has already onboarded prominent validators such as Google Cloud, Twinstake, and Hex Trust.

As per the blog post, Ledger, renowned for its hardware security devices like the Ledger Nano, brings solid security expertise to the MANTRA Chain validator set. This collaboration not only strengthens network security but also paves the way for additional integrations, leading to improved user experiences and enhanced security features within the MANTRA Chain ecosystem.

This comes weeks after UAE Conglomerate DAMAC Holdings announced it would be tokenizing $1 billion worth of assets on Mantra Blockchain. In an interview with CoinDesk, CEO of Mantra John Patrick Mullin, stated, ” The UAE will become the epicenter of where this all kicks off, as regulatory frameworks are critically supportive here.”

DAMAC’s Managing Partner Amira Sajwani also noted in the interview with CoinDesk, that it is the perfect time. She noted ” In the UAE, there is a massive spotlight on the country. Working with Mantra we are allowing people to enter lower entry point tokenizing properties, the timing is mature and there is an accurate regulatory framework coming in place, supporting innovation.”

She adds, ” We already had an entity regulated by DFSA and we already have experience fractionalizing real estate where the entry point is 500 AED equivalent to $150 and we have had huge traction. The average was much higher between $300-$10,000 investment tickets so we knew there was a market for it and a demand. Now we are moving it tokenized assets, tokenization allows more transparency and efficiency with the title deed of the property, and we chose Mantra because after exploring other chains, we chose them for their technology but the team was equally as important.”