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MAG signs strategic partnership with MultiBank Group to tokenise real estate assets
MAG, a UAE-based real estate developer, entered into a $3 billion (AED 11.2 billion) tokenization agreement with MultiBank Group.
By Simplex Loft
Summary of reports from Construction Week Online and UpperNews
Key points
01
Tokenization of real estate assets
The agreement converts premium properties of MAG into digital tokens. This permits fractional ownership.
02
Blockchain infrastructure
Mavryk, a blockchain tokenization infrastructure provider, supports the on-chain issuance of assets.
03
Regulatory compliance and governance
MultiBank Group oversees regulatory adherence, secondary market liquidity and platform governance.
04
Investor accessibility
Global investors can invest in the tokenized properties through the regulated marketplace of MultiBank.io.
In summary
The agreement integrates blockchain technology in the real estate sector. The aim is more liquidity, transparency and accessibility for investors.