U.S. Atlas AI Labs to offer tokenized asset on permissionless blockchain with VARA Dubai
Atlas AI Labs FZE (Atlas), the Dubai-incorporated subsidiary of Atlas Capital Team Inc., a U.S.-based financial technology business, is set to issue the first asset-referenced virtual asset or tokenized asset available in a fully permissionless environment. This follows In-Principle Approval (IPA) from Dubai’s Virtual Assets Regulatory Authority (VARA) to operate token issuance services under its Asset-Referenced Virtual Asset (ARVA) Rulebook.
The press release notes, that the token, which will be issued under the name USAF+, is a fully collateralized digital expression of the Atlas America Fund (NASDAQ: USAF), an SEC-registered ETF with assets custodied by Bank of New York. The net asset value (NAV) of the token is referenced directly to the underlying NAV of the USAF ETF.
What sets USAF+ apart is its open architecture. As a token backed by real assets and built to be issued in a permissionless environment, it will be accessible, tradeable, and settleable 24/7 without gatekeepers. This democratizes access to tokenized real-world assets for a global audience, whilst preserving the regulatory oversight institutional markets require. USAF+ will be the first digital asset simultaneously collateralized by an SEC-registered, NASDAQ-listed ETF and VARA-approved for permissionless issuance
Transparency and reporting of USAF+ reserve backing follow the same disclosure schedule and format as the traditional ETF, and will be attested by a third-party verifier. The portfolio holds short-duration U.S. Treasuries, TIPS and municipal bonds, gold, climate-resilient real estate and real estate investment trusts (REITs), defense and cybersecurity equities, and agricultural and energy commodities.
Asset allocation is actively managed under a regime-aware framework, which dynamically adjusts in real time to changing market environments. This is enabled through continuous research and execution support from Atlas AI Labs and under oversight from the Atlas Capital Team Inc. Investment Committee. This architecture is designed to deliver institutional-grade stability, verifiability, and liquidity across macroeconomic regimes.
Reza Bundy, CEO and Chairman of Atlas Capital Team Inc., said, “This milestone marks a structural breakthrough for digital finance. For the first time, anyone, anywhere, will be able to hold and trade a regulated, real-asset-backed token in a permissionless environment. The architecture exists because Dubai built the regulatory framework for it. VARA’s ARVA Rulebook is the first regime anywhere to authorize asset-referenced virtual assets for permissionless issuance, and the UAE has paired that regulatory clarity with operational openness no other financial center matches.”
A Spokesperson for VARA, added, “This approval signals VARA’s commitment to enabling a new class of regulated, asset-backed digital finance and further cements the UAE’s position as a global hub for regulated digital asset innovation. Such commitment represents a significant step forward for both capital markets and the virtual asset ecosystem.”
Dr. Nouriel Roubini, Chief Economist and Co-Founder of Atlas Capital Team Inc., commented, “The intersection of macroeconomic rigor and digital innovation is where the next generation of financial infrastructure will be built, and Dubai has positioned itself as one of the few jurisdictions where that work can run in production. The Atlas America Fund and its tokenization embody this thesis. Atlas seeks to deliver all three, under a regulatory framework which the UAE has built specifically for this category.”
W3C the advisory and consultancy firm for virtual asset ecosystem in UAE, assisted Atlas AI Labs in its licensing process within VARA Dubai. On LinkedIn, W3C noted that this was the first approval for the issuance of an asset backed token in a fully permissionless environment. W3C noted their proud support of Atlas AI Labs throughout the process, and stated that the focus is now on obtaining the full license.
