UAE establishes five regulatory frameworks for tokenised real-world assets
Under the UAE Banking Law, a "Payment Token" is defined more narrowly under the CBUAE Payment Token Services Regulation (PTSR) as a virtual asset that maintains a stable value by reference to the fiat currency in which it is denominated or another payment token also denominated in the same fiat currency.
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The United Arab Emirates has emerged as a leading jurisdiction for tokenisation of real-world assets. Dubai's first tokenised real estate offering, launched in May 2025 by the Dubai Land Department and VARA-licensed issuers, sold out in under two minutes following an initial pilot that fully funded within 24 hours. Advisors on tokenisation projects must navigate five distinct regulatory frameworks: the Central Bank of the UAE (CBUAE), the Virtual Assets Regulatory Authority (VARA), the UAE Capital Markets Authority (CMA), and the financial free zones Abu Dhabi Global Market (ADGM) and Dubai International Financial Centre (DIFC). Federal Decree-Law No. 6 of 2025 gives the CBUAE jurisdiction over payment tokens. Payment Token Service Providers must be licensed or registered with the CBUAE. As of September 2026, the CBUAE has licensed or approved four Dirham-pegged stablecoins: AE Coin, Zand AED, DDSC, and RAKBANK AED. VARA regulates virtual assets used for funding and investment purposes in Dubai. Under Cabinet Decision No. 111/2022, VARA's framework includes Asset-Referenced Virtual Assets (ARVAs)—the primary vehicle for tokenising real-world assets such as real estate and commodities—and Fiat-Referenced Virtual Assets (FRVAs). The CMA has federal jurisdiction over security tokens and commodity tokens. A CMA–VARA strategic partnership announced in 2025 aims to unify crypto regulation across the country.
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Reported by: Mondaq 7 Oct 2026 Read the original ↗ More from Mondaq →
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Mondaq (UAE).
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7 Oct 2026.
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Read the original at Mondaq: https://www.mondaq.com/fintech/1851714/digital-assets-tokenization-developments-in-a-fast-developing-uae-regulatory-environment
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