The MultiBank Group, the world’s largest institution of derivative instruments based in Dubai, has signed a breakthrough agreement on the tokenization from assets in the real world of $ 3 billion with Giant Mag and infrastructure of Blockchain from Blockchain.
The agreement represents the largest RWA toke initiative so far and emphasizes the upcoming launch of the native token of MultiBank, MBG usability, in accordance with the press message made available by Cointelegraph.
The partnership will bring ultra-luxurious real estate projects to Ritz-Carlton Residences, Dubai, Creekside and Keturah Reserve-on Blockchain through the regulated RWA Multibank.io market.
After toxate, these assets will be available to global investors and generate daily performance for owners directly on the platform.
“Magic property worth USD 3 billion will be toxhenized as individual RWA tokens on the Multibank platform, each represented on Mavryk Blockchain, as the basic infrastructure of layer 1”, said Cointelegraph Talal Moafq al Gaddah, Vice President of the Executive Mag.
Al Gaddah added that “$ MBG token ensures the utility of the ecosystem, including trade discounts, early access to real estate and the model of redemption and combustion.”
Related: Blackrock, five others accounts for 88% of all tokenized tax emissions
MultiBank toxhenizes Magic real estate
Magician, one of the most outstanding developers in the United Arab Emirates, will contribute to its premium real estate portfolio for toxo.
Mavryk will cope with the release of blockchain and DEFI integration, while the MultiBank Group will manage compliance with the regulations, fluidity and management, with the MBG token at the base of the system.
“The tokenized assets issued by MultiBank will have double usability. In the Multibank group they can be used as a security for derivatives, creating a trouble -free bridge between traditional finances and tokenized assets,” said Al Gaddah.
He said that these tokens are fully interoperable with the wider Mavryk DEFI ecosystem.
MBG token adds platform tools
The MBG token will top up the fee, fees, VIP levels and user prizes. It also contains a redemption and combustion mechanism associated with platform revenues, creating a long -term value for both institutional and retail participants.
The platform is aimed at scaling outside the initial $ 3 billion up to $ 10 billion in tokenized assets.
“The goal is to earn real estate assets with high value, generating income that traditionally was difficult to obtain or trade.”
The announcement appears in connection with the re -interest in the tokens of RWA.
On April 30, Blackrock submitted a request to create a digital technology shares from one of the company’s money market funds, which uses blockchain technology to maintain a mirror record of having shares for investors.
DLT shares will be followed by Blackrock’s BLF Treal Trust Fund (TTTXX), which can only be bought from Blackrock Advisors and Bank of Novel York Mellon (BNY).
The money market fund has assets worth over $ 150 million, invested almost completely in American tax accounts and cash.
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