Dubai Pilots Tokenisation of Gold and Diamonds

Dubai has taken a step toward integrating traditional commodities with digital finance by launching pilot tokenisation projects for gold and diamonds through a partnership between the Dubai Multi Commodities Centre (DMCC) and the Dubai Virtual Assets Regulatory Authority (VARA). The initiative aims to establish a secure, regulated framework for representing, trading, and settling high-value physical assets on blockchain platforms.

Ahmed Bin Sulayem, Executive Chairman and CEO of DMCC, said the partnership "is a pivotal step in the evolution of Dubai's digital-asset landscape" and emphasized that it will help "unlock a new era of real-world, investable products that expand global market access, enhance liquidity and trust." Matthew White, CEO of VARA, described the project as a means to "set global benchmarks for how physical and digital markets converge," ensuring that tokenised assets emerge safely and transparently.

The pilot programmes will examine technical and regulatory requirements, market viability, and investor protections. Education and awareness are central pillars, with workshops, seminars, and other initiatives designed to increase understanding of tokenisation's benefits, risks, and regulatory considerations among both institutional and public audiences.

DMCC brings extensive commodities expertise and a network of nearly 26,000 member companies to the project, while VARA contributes regulatory oversight. Dubai's Crypto Centre, part of DMCC, hosts over 700 Web3 firms and has seen a 38% year-on-year growth in registered crypto companies, underscoring the city's depth in both blockchain and commodities sectors.

By combining regulatory compliance with digital-asset innovation, the partnership aims to create transparent, scalable infrastructure for tokenised commodities, strengthening Dubai's position as a global hub for digital assets and blockchain-enabled trade. Analysts say this initiative could accelerate adoption of tokenised real-world assets internationally.