DUBAI, United Arab Emirates--BUSINESS WIRE--
MAG, the leading real estate developer in the UAE has signed a historic $3 billion tokenization agreement with MultiBank Group, the world's largest financial derivatives institution based in Dubai, and Mavryk, a leading blockchain innovator - marking the largest real-world asset (RWA) tokenization initiative globally to date. The initiative highlights the imminent launch of $MBG, the utility token at the core of MultiBank's next-generation digital finance ecosystem.
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"This isn't just a real estate deal - it is a flagship use case for the $MBG token. By enabling seamless access to $3B in tokenized property, MultiBank becomes the bridge between regulated finance and next-generation investment infrastructure," said Zak Taher, Founder and CEO of MultiBank.io.
The initial tokenization of $3 billion is just the beginning. The platform is built to scale up to $10 billion in assets, setting the stage for a new era of programmable ownership and compliant digital investing - with $MBG at its foundation.
Legal Disclaimer
The Ritz-Carlton Residences, Dubai, Creekside, are not owned, developed, or sold by The Ritz-Carlton Hotel Company, LLC or its affiliates ("Ritz-Carlton"). MAG of Life FZ-LLC uses The Ritz-Carlton marks under a license from Ritz-Carlton, which has not confirmed the accuracy of any of the statements or representations made herein.
Source: AETOSWire
View source version on businesswire.com: https://www.businesswire.com/news/home/20250501021414/en/
