Rifad Mahasneh, CEO of OKX’s MENA arm, emphasized the importance of real-world utility in the burgeoning sector of real-world asset (RWA) tokenization during an interview at the Token2049 event in Dubai. He cautioned that while tokenization holds potential, projects must convincingly showcase their tangible benefits. He noted that some assets may not warrant tokenization, while others can provide significant everyday value. Mahasneh illustrated the rising interest in RWA projects in the UAE, highlighting initiatives involving local real estate firms and government efforts to tokenize real estate. The Dubai Land Department has launched its own real-estate tokenization endeavor in collaboration with regulatory bodies. Mahasneh pointed to the region's clear regulations as a catalyst for institutional interest in tokenization and crypto, contrasting this approach with markets still debating crypto regulations. The UAE’s regulatory advancements, especially concerning stablecoins, instill further confidence in investors. Mahasneh commended the Central Bank of the UAE for progressing stablecoin regulations, which bring clarity to the issuance and supervision of payment tokens. Major players like Tether have begun engaging in this evolving environment, indicative of the growing institutional backing for crypto initiatives in the region.

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