VARA License Paves Way for MultiBank and MAG’s $3B Real Estate Tokenization

Dubai-based real estate developer MAG has signed a $3 billion agreement with MultiBank Group and Mavryk. The deal involves tokenizing real-world assets (RWAs), making it the largest initiative of its kind to date.

The agreement will bring MAG’s high-value properties onto the blockchain. These include The Ritz-Carlton Residences, Dubai, Creekside, and Keturah Reserve. Investors will be able to access them through MultiBank.io.

VARA License Enables MultiBank.io Tokenization Platform

MultiBank.io, the platform hosting the tokenized assets, is operated by MEX Digital FZE, a UAE-based subsidiary of MultiBank Group. The entity recently secured a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA).

The license permits broker-dealer and exchange activities for virtual assets, excluding derivatives. This regulatory approval supports the infrastructure behind the tokenization initiative and marks the group’s broader entry into the digital asset space.

The tokenized assets will be available to global investors. Once launched, holders of these assets will receive daily yield distributions through the platform.

MAG has signed a historic USD 3 billion tokenization agreement with MultiBank Group and Mavryk, marking one of the largest RWA tokenization initiative globally to date.https://t.co/41ZboMEoNm#WBO #MAG #multibank #mavryk #agreement #financial #blockchain #digital #platform #RWA pic.twitter.com/3bFgCQVpj6

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$MBG Token Supports MultiBank’s $3B Tokenization Deal

A new utility token, $MBG, will support the system. It will be used for access, staking, paying fees, and interacting with the platform. MultiBank Group stated that the token is central to its digital finance ecosystem.

Under the agreement, MAG will provide the real estate assets. Mavryk will build the blockchain infrastructure. MultiBank Group will manage regulatory compliance, liquidity, and platform governance.

The $3 billion tokenization is the first phase. The platform is expected to scale up to $10 billion in assets. The move aims to create a compliant framework for digital investments based on tokenized ownership.