MultiBank Group has entered a historic $3 billion agreement to tokenize real-world assets (RWAs) in partnership with UAE-based MAG and blockchain provider Mavryk. This deal marks the largest RWA tokenization initiative globally. MAG’s luxury real estate portfolio, including projects like The Ritz-Carlton Residences and Keturah Reserve, will be tokenized on MultiBank’s regulated marketplace, making these assets accessible to global investors. Each asset will be represented as individual tokens on the Mavryk blockchain. The MBG token will facilitate platform operations, offering utility in trading discounts, access to properties, and a deflationary buyback-and-burn model. Al Gaddah from MAG emphasized the dual utility of tokenized assets, which can serve as collateral for derivatives within the MultiBank Group. The goal is to expand tokenized assets from the initial $3 billion target to $10 billion, reflecting rising interest in RWA tokenization, especially in light of recent developments from firms like BlackRock regarding blockchain-based money market funds.

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