Blockchain Leaders Launch $10 Billion Luxury Property Tokenization Initiative in UAE

A coalition of blockchain and real estate leaders has launched an initiative to tokenize $10 billion in luxury property within the United Arab Emirates, marking a pivotal effort to integrate real-world assets (RWAs) into the blockchain ecosystem. The partnership includes Mavryk, an RWA-focused Layer-1 blockchain; MultiBank, a global derivatives firm; MAG Group, a Dubai-based real estate company; and Fireblocks, a leading institutional-grade custody provider. Their collaboration aims to tokenize high-end real estate assets and enable 24/7 trading of tokenized stakes, making property ownership more accessible to a global audience [1].

The on-chain RWA market, while still in its infancy, has grown to $24.8 billion. This remains a small fraction of both the $3.7 trillion total crypto market cap and the $226 trillion global real estate market. However, recent developments indicate a shift in institutional interest toward blockchain-based assets. The maturation of the crypto market—highlighted by the launch of spot BTC ETFs and the rise of stablecoins—has encouraged traditional financial institutions to explore Web3 opportunities [1].

Tokenization involves creating digital tokens that represent ownership or a claim on real-world assets such as property, gold, carbon credits, or art. As of the latest data, there are about 340,000 RWA holders and 256 issuers, with Ethereum and Solana among the top platforms facilitating these transactions [1]. The Bank of America has noted an uptick in institutional interest in RWAs, and industry leaders such as Hashkey CEO Dr. Xiao Feng suggest that China’s potential return to the crypto space could focus on stablecoins and RWAs [1].

Mavryk plays a central role in this initiative, having been purpose-built to support RWA tokenization from the ground up. Unlike many other blockchain platforms that have been retrofitted for RWA use cases, Mavryk is designed specifically to serve this market. Upon the launch of its mainnet later this year, investors will be able to secure tokenized stakes in MAG Group’s real estate portfolio and earn on-chain yields backed by tangible assets. Fireblocks, which provides custody for over $7 trillion in digital assets across 100+ blockchains, will offer institutional-grade security for these tokenized assets [1].

Dubai has emerged as a key hub for RWA innovation, with its favorable regulatory environment and forward-thinking approach to digital assets. The city’s openness to blockchain technology, including allowing property purchases with cryptocurrency, has made it a magnet for global RWA projects. A recent strategic partnership between the Dubai Land Department, Prypco, and Ctrl Alt Solutions also aims to tokenize billions in real estate assets [1]. These efforts position Dubai as a testing ground for blockchain-driven financial systems, with potential implications for global markets.

Property tokenization is considered a particularly effective gateway for traditional investors. Unlike highly volatile crypto assets, real estate provides tangible value, which may help ease the transition for those unfamiliar with digital finance. As the RWA sector continues to expand, it is possible that this market could surpass the traditional crypto landscape in adoption and capitalization [1].

Source: [1] Dream Team Behind $10bn RWA Deal Aims to Make Tokenized Property Market a Reality (https://cryptodaily.co.uk/2025/08/dream-team-behind-10bn-rwa-deal-aims-to-make-tokenized-property-market-a-reality)