Dubai permits digital ownership of largest silver ingot
The Dubai Multi Commodities Centre has launched the largest silver bar in the world, weighing 1,971 kilograms, in commemoration of the UAE's founding in 1971. The bar has been tokenized as the first cryptographically secured physical asset within the Virtual Assets Regulatory Authority (VARA) framework, allowing qualified investors to hold fractional digital shares linked to it through the TokenFist platform. Trading is expected to begin on the secondary market after issuance and regulation, demonstrating Dubai's ability to integrate physical assets with digital technology and enhance investment opportunities in precious metals.
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