96 firms express interest in DFSA’s inaugural Tokenization Regulatory Sandbox.
The initiative is part of the Innovation Testing Licence program to foster safe financial innovation.
DFSA supports Dubai’s D33 agenda to become a top four global financial hub by 2033.
The Dubai Financial Services Authority (DFSA) has received interest from 96 companies for its first Tokenization Regulatory Sandbox. This initiative, based in the Dubai International Financial Centre (DIFC) enables firms to test tokenized financial instruments within a controlled regulatory environment, as detailed in their press release.
The DFSA, the independent regulator of the DIFC, launched the Tokenization Regulatory Sandbox as part of its Innovation Testing Licence (ITL) program, which aims to balance support for technological innovation with investor protection and market stability.
Related: First Government to Accept Crypto Payments: Dubai Rolls Out New System
Tokenization, which involves the digital representation of real-world financial assets, including shares, bonds, sukuk (Islamic bonds), and fund units, is at the heart of this sandbox. The program allows firms to trial the i…
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