Latest news with #tokenisation
Free Malaysia Today
9 hours ago
- Business
- Free Malaysia Today
Goldman, BNY launching tokens tied to money market funds
The crypto industry has rallied in recent months amid surging optimism. (EPA Images pic) NEW YORK : Goldman Sachs and BNY have joined hands to launch digital tokens that mirror shares of money market funds, deepening Wall Street's push to bring blockchain technology into traditional finance. Investors can now buy and sell money market fund shares on BNY's LiquidityDirect platform, with a digital record of those shares created on Goldman's blockchain system, the two financial giants said today. The move marks an early step toward modernising the infrastructure that underpins most of the financial ecosystem. If adopted broadly, it could make it easier and faster for institutional investors to use these assets as collateral and reduce trade settlement times. BlackRock, BNY Investments Dreyfus, Federated Hermes, Fidelity Investments and Goldman Sachs Asset Management are among the companies participating in the initial rollout. Though a subject of debate, tokenisation's potential to drastically reshape the investing landscape has drawn strong interest. In January, Apollo teamed up with Securitize to launch a feeder fund that would channel capital from crypto-native investors into its global credit fund. The moves coincide with and gained fresh momentum after the Genius Act passed earlier this month.
Gulf Business
5 days ago
- Business
- Gulf Business
PRYPCO Mint hits Dhs9m in tokenised property sales in first month
Image: Supplied/ Prypco Mint PRYPCO Mint, the MENA region's first real estate tokenisation platform, has crossed Dhs9m in tokenised property investments within a Licensed by Dubai's Virtual Assets Regulatory Authority ( The platform enables fractional ownership of premium properties, making real estate more accessible through blockchain technology. PRYPCO Mint has struck a chord with investors Since going live, PRYPCO Mint has attracted investors from over 50 nationalities living in the UAE. Properties listed on the platform are fully funded in minutes, with an average funding Among the standout investments are a unit in Sobha Creek Vistas Grande, which was funded in 10 minutes by 213 investors from 38 nationalities, and a unit in Liv Residence, Dubai Marina, funded in 3 minutes by 258 investors from 47 nationalities. Average investment sizes were Dhs7,512 and Dhs7,210, respectively. 'This momentum shows just how strongly the market is moving toward tokenised real estate,' said Amira Sajwani, founder and CEO of PRYPCO. 'Investors are looking for transparency, flexibility, and access to high-value markets with lower entry barriers.' With government backing and regulatory clarity, PRYPCO Mint is positioning itself as a frontrunner in digital property ownership in the UAE.
Gulf Business
6 days ago
- Business
- Gulf Business
Dubai Financial Services Authority's Charlotte Robins on how its Tokenisation Sandbox is gaining traction
Image: Supplied Charlotte Robins, MD of Policy and Legal at the Dubai Financial Services Authority ( In this interview, Robins discusses the models that stood out, how the initiative aligns with Dubai's D33 economic agenda, and how the DFSA is balancing innovation with robust regulation to position the DIFC as a top-four global financial hub. The Tokeni s ation Regulatory Sandbox attracted 96 expressions of interest from six jurisdictions. What does this level of global interest tell you about the future of tokeni s ation and DFSA's regulatory positioning? The global interest in our Tokenisation Regulatory Sandbox signals the importance of, and growing appetite for, responsible innovation, and recognises the appeal of DFSA's regulatory approach to innovation. As a regulator, our role is to support innovation and its positive contribution to the financial markets in ways that maintain market integrity and protect the public interest within the DIFC. By working closely with local and global firms through the sandbox, we are encouraging responsible innovation and helping to ensure that new ideas are tested against regulatory expectations. What were some of the most promising or innovative tokenisation models proposed by applicants? Were there any particular sectors — like sukuk or property funds — that stood out? The expression of interest process provided the DFSA with valuable insight into the diversity and maturity of tokenisation models being developed globally . The DFSA received nearly 100 responses – including proposals to tokenise financial assets and instruments, such as bonds (including Islamic bonds, or sukuk), units in a fund (including money market funds and property funds), and the trading and safe custody of those assets – reflecting the broad potential of tokenisation across the financial ecosystem. The initiative attracted strong interest from both established financial institutions wishing to explore tokenisation use cases and innovative start-ups looking to scale breakthrough digital asset solutions in a regulated environment. Applications were received from within the UAE and from other regions such as the UK, EU, Canada, Singapore and Hong Kon . Can you walk us through the evaluation process? What key factors determined whether a firm was invited into the Innovation Testing Licence programme versus granted full authorisation? As a brief recap, the e xpression of interest (EOI) period ran from March– April this year. Thereafter we conducted an initial assessment of the submissions received and whether the tokeni s ation activities fall within our regulatory perimeter of financial services activities that can be conducted in the DIFC. Following these assessments, the DFSA had discussions with a majority of the applicants and shortlisted those that were sufficiently clear on their business model , ready to do business in and from the DIFC and ha d a level of familiarity with DFSA rules, and therefore ready to progress to the next stage. In June, a number of firms were then invited to prepare their applications, either for the Innovation Testing Licence programme (ITL), which is our regulatory sandbox , or where the business model is sufficiently matured and tested in other markets, for a full licen c e . The DFSA assesses the firms' readiness to apply for the Tokenisation S andbox based on the ITL eligibility criteria that we have in place, such as : •S ufficiency of resources (financial and operational) to operationali s e • R eadiness to test its innovative products and services • C ommitment to deploy products and services in the DIFC and broader UAE during and after the sandbox testing period How does the DFSA strike a balance between enabling financial innovation and ensuring market integrity, particularly with emerging technologies like tokenisation ? At the DFSA, we recognise that robust, balanced, and proportionate regulatory frameworks have a key role to play in creating an environment in which innovative firms can thrive. On this basis, we create, and tailor our regulatory regimes appropriately and don't seek to impose unnecessary regulatory burden, and inadvertently stifle innovation. To that end, we always publicly consult on any changes to our rulebook to ensure that our approach to regulation: Is proportionate and risk-based enough to foster beneficial innovation, yet robust enough to avoid a race to the bottom and a loss in trust and confidence; Evolves and adapts in line with market developments, adopting the principle of 'same activity, same risk, same regulatory outcome'; and Focuses on regulatory outcomes that meet the needs of local markets rather than adopting a 'one-size-fits-all' regulatory approach. Additionally, on an ongoing basis we proactively engage with market participants, their advisors, and industry bodies, for example, to ascertain how our regulatory regime can be enhanced and improved e.g., via industry webinars, roundtables, outreaches, and consultation. In such an area where rapid change appears to be a permanent feature of the environment within which these markets operate, we see both collaboration and industry engagement as being essential. From investment tokens to stablecoin approvals, the DFSA has taken progressive steps in digital asset regulation. How will insights from this sandbox phase inform future regulatory developments? Insights from our sandbox – the Innovation Testing License , will allow us to observe how innovative technologies perform in a controlled environment. This will enable us to identify potential risks, benefits and gaps in existing regulation, which will in turn lead to more informed balanced, and adaptive policymaking that supports innovation while protecting consumers. W e are continuously developing our models and policies to ensure that they don't stifle growth whilst ensuring investor protection and responsible innovation. In May 2025, we published an explainer guide to clarify the process of apply ing to the ITL sandbox so that we can continue to empower innovators with the knowledge they need to engage with the DFSA and bring transformative financial services to market in the DIFC. We're seeing more interest in innovation / crypto – firms coming to us and we collaborate with other regulatory standard-setter via groups such as the Global Financial Innovation Network (GFIN) to ensure that we share-knowledge and best practices. As a regulator, it's important that we are balance growth and innovation whilst continuing to protect our stakeholders, investors and the market. In terms of what we are seeing in the innovation space – Tokenisation is probably at the top of the list. How does the Tokenisation Regulatory Sandbox align with Dubai's D33 economic agenda? In your view, what role will tokenisation play in helping DIFC become one of the world's top four financial hubs? The DFSA's regulatory ITL Sandbox aligns with Dubai's D33 economic agenda by enabling safe experimentation with tokeni s ed and innovative financial products – positioning the DIFC at the forefront of FinTech innovation. As Dubai aims to become one of the world's leading financial hubs, our sandbox serves as a practical mechanism for translating policy into real-world outcomes. Attracting global players while shaping regulation which is ready for the future. By embedding tokenisation within a transparent framework, we are not only fostering innovation, but setting global standards , cementing Dubai as a leading jurisdiction for digital finance. DFSA has been opening its regulatory sandbox to non-traditional financial institutions and tech startups. What strategies are you deploying to ensure diverse participation—and how is that shaping your regulatory toolkit? To ensure diverse participation of non-traditional financial institutions (NBFIs) and tech start-ups in the ITL programme , DFSA implements a combination of outreach, design flexibility, incentivi s ation and support mechanisms. Some o f the key strategies implemented by the DFSA include : • I ntroducing themed sandbox such as the T okenisation S andbox launched earlier this year ; • A llowing fintechs to participate in the sandbox with proportionate regulatory re quirements including waivers and modi fications from re gulations during the testing period ; • D esigning streamlined and transpa rent application process with clear timelines and expectations ; • P roviding regulatory guidance through closed supervision to enable participants' success in the programme . Initiatives such as the DFSA's Tokenisation Regulatory Sandbox underscores the DFSA's commitment to enable innovation in a way that is responsible, informed, and aligned with global regulatory best practice – supporting the DIFC's position as a leading hub for digital finance, and aligning with Dubai's Economic Agenda D33, which aims to make Dubai one of the world's top four global financial hubs by 2033 . As previously mentioned, our sandbox , will allow us to observe how innovative technologies perform in a controlled environmen t which will in turn enable us to identify potential risks, benefits and gaps in existing regulation – resulting to more informed balanced, and adaptive rulemaking . Read:
Khaleej Times
6 days ago
- Business
- Khaleej Times
Dubai: Indian, Emirati, Pakistani investors lead in tokenised property deals
More than Dh9 million worth of deals through tokenisation have been made in Dubai within a month of selling properties through Prypco Mint, Mena's first real estate tokenisation platform. According to data shared by Prypco Mint, Indians, Emiratis, Pakistanis, Canadians, Americans, and British topped the list of investors by investment amount. More than 50 nationalities based in the UAE have invested in tokenised projects. Properties listed on the platform are being fully funded in record-breaking times, averaging just three minutes per property. Stay up to date with the latest news. Follow KT on WhatsApp Channels. Amira Sajwani, founder and CEO of Prypco, said this strong demand in the first month of the launch of tokenisation of real estate demonstrates how strongly the market is gravitating towards tokenised real estate. 'Investors today want flexibility, transparency, and the ability to participate in high-value property markets with lower entry barriers. We're excited to see demand for tokenised properties growing every day, as more people recognise this as the future of real estate investment,' she said. The latest projects that were fully funded were two apartments in Sobha Creek Vistas Grande and Liv Residence in Dubai Marina, both located in some of Dubai's most sought-after communities. The Sobha Creek Vistas Grande property was fully funded in just 10 minutes by 213 investors from 38 nationalities, with an average investment size of Dh7,512. Meanwhile, Liv Residence in Dubai Marina achieved full funding in an impressive three minutes, attracting 258 investors from 47 nationalities, with an average investment size of Dh7,210. In March, the Dubai Land Department (DLD) launched the pilot phase of the 'Real Estate Tokenisation Project' in collaboration with the Dubai Virtual Assets Regulatory Authority (Vara) and Dubai Future Foundation (DFF) through SandBox Real Estate. Real estate tokenisation transforms real estate assets into digital tokens using blockchain technology. Each asset is divided into shares based on an investor's budget and financial strategy, enabling fractional property ownership. This innovative approach marks a significant shift by allowing investors to acquire a portion of a property without fully purchasing it, leveraging advanced technology. Unlike crowdfunding, which grants investors access to the real estate market with small investments through digital platforms, tokenisation offers a distinct and more structured model for real estate investment. According to DLD estimates, Dubai's real estate tokenisation sector is projected to reach Dh60 billion by 2033, accounting for seven per cent of the emirate's total real estate transactions.
Zawya
11-07-2025
- Business
- Zawya
The hidden complexity of tokenisation: Why implementation is harder than it looks?
The checkout point is where the full weight of customer acquisition hinges, so a failed payment at this part of the funnel is not just friction, but a missed sale for many stakeholders. That's why enabling safe, one-click payments is the emerging gold standard in mobile payments and e-commerce. Tokenisation is the method that can facilitate a consistently smooth and successful checkout experience at scale, which is why it is so desired in the payments space. A successful tokenisation implementation has something in it for everyone. Customers get to make an effortless purchase, the merchant completes the transaction, and card issuers reap the benefits of fewer false declines or fraudulent transactions, less compliance liability, and lower processing costs. When tokenisation works well, it can be frictionless, but implementing it is hardly ever so. Many businesses assume that tokenisation is a plug-and-play solution. The reality is more complicated. Underneath the surface lies the difficulty of technical integration, legacy system constraints and fragmented standards. These serious roadblocks often slow down implementation and reduce impact. For payment providers facing the pressure to innovate, the challenge of slow execution can be costly, not just in time and resources, but in lost sales. The promise of tokenisation in virtual card issuing Tokenisation is rapidly gaining traction across the payments ecosystem, with global transaction volumes expected to surpass one trillion by 2026. The benefits of tokenisation are most evident with virtual card issuing, where secure and flexible card provisioning happens without exposing the underlying PAN. Virtual cards can be issued instantly and used across channels by replacing sensitive card data with randomised, network-issued tokens that are useless when intercepted by fraudsters. Common challenges like expired card details are no longer a barrier as virtual cards are automatically updated, making them ideal for rapid and convenient payments of all kinds. One thing is clear – as payment ecosystems grow more intricate and fraud tactics evolve, consumers will show little patience for clunky or sluggish checkout experiences. How tokenisation enhances payment security Unlike traditional encryption, which requires complex key management, tokens are format-preserving yet carry no intrinsic value outside the specific transaction flow they were created for. In simple terms, tokenisation reduces the risk of data breaches and increases PCI DSS compliance. According to industry data, network tokenisation can reduce fraud rates by up to 30%, and some sources cite an average fraud reduction of 26% across card-not-present transactions. Mastercard, for example, has reported a 3 to 6 percentage point increase in transaction approvals since implementing its tokenisation technology, shining a light on the operational upside of adopting tokens over raw card data. Increased complexity with increased vendor numbers As the payment ecosystem becomes increasingly crowded, tokenisation often hits a wall, not because of the technology itself, but the complexity of combining multiple ecosystem players. It's no surprise that many issuers grapple with a steep complexity curve. What begins as a focused implementation quickly escalates as the number of integration points grows. With multiple CMS vendors, an expanding number of card schemes and the rise of digital wallets, each with its own tokenisation protocols and update mechanisms, we can see how the orchestration effort becomes exponentially more complicated. Every additional system adds a new layer of requirements, dependencies and failure points. Without a robust orchestration layer that is flexible and interoperable enough to coordinate tokens across infrastructures, issuers risk introducing latency, reducing authorisation rates and exposing themselves to operational blind spots. Regulatory and compliance challenges While tokenisation inherently reduces exposure to sensitive cardholder data, issuers and merchants must still navigate a complex web of regional and international regulations. In Europe, for instance, GDPR imposes strict requirements on how personal and payment data is stored, processed and transferred, regardless of whether it's tokenised. Likewise, PCI DSS standards govern the security posture of any system interacting with card data, even if that data is in token form. For global issuers, the challenge can compound – what satisfies regulators in one region may fall short elsewhere. What's more, virtual cards introduce their own compliance considerations, especially around transaction traceability, auditability and the handling of expired or reissued credentials. Financial institutions risk delayed rollouts, audit penalties and customer trust erosion without a consistent and adaptable compliance framework. The need for ongoing compliance Card issuers know that compliance isn't a one-time exercise. As regulatory landscapes shift in response to evolving threats and technological advances, businesses must treat compliance as a continuous process. Emerging standards, updates to existing frameworks and tightening data protection laws mean that what's compliant today may not be tomorrow. For firms operating across borders, this complexity multiplies, requiring them to monitor regional developments, adapt internal policies, and often retool parts of their infrastructure to remain in step. This dynamic environment demands more than just legal oversight, but agile systems and partnerships that can flex with regulatory change. Why Choose Stanchion's Tokenisation and Virtual Card Issuing Services? With all the promise of agility, security and operational efficiency that tokenisation and virtual card issuing may hold, without the right expertise, the vision can quickly unravel under technical challenges and regulatory pressure. Stanchion's technical expertise in tokenisation With years of experience helping banks and payment providers to modernise their infrastructure, Stanchion brings deep domain knowledge to the most complex tokenisation initiatives. From managing issuer integrations to orchestrating across card schemes, CMS platforms and digital wallets, Stanchion's solutions are made to simplify what others struggle to align. Stanchion's secure and scalable solutions Stanchion's tokenisation framework is secure and scalable. It supports multi-environment orchestration straight out of the box, allowing banks to deploy tokens consistently across legacy systems, cloud platforms and third-party vendors without missing a beat. This reduces implementation time, minimises friction and allows clients to accelerate their digital roadmap confidently. Strong compliance posture On the compliance front, Stanchion's platforms are engineered with evolving regulations in mind. Whether aligning to GDPR, PCI DSS, or local data sovereignty laws, clients can rest assured that tokenised workflows are built to meet the highest data protection and auditability standards. With a consultative delivery model, Stanchion gives businesses a trusted path through the complexities of virtual card issuance, ensuring they master the process. The Bottom Line Tokenisation offers undeniable advantages, but beneath the allure lies a complex web of integration demands, regulatory hurdles and operational dependencies that few businesses are prepared for. As payment ecosystems grow more fragmented and compliance standards evolve, implementation is less plug-and-play and more precision engineering. Success depends on adopting the right technology and partnering with experts who can navigate the hidden complexity. A knowledgeable provider like Stanchion brings the technical tools and the strategic insight required to navigate the tricky maze of integrations, regulations and evolving payment standards. From day one, Stanchion helps clients to anticipate roadblocks, accelerate deployment and ensure full compliance across environments. In a space where the margin for error is slim and the cost of delay is high, it's a good idea to partner with a team that's already been there. Your Path Forward If you're ready to simplify complexity and unlock the full potential of secure, scalable payment innovation, it's time to talk to Stanchion. Whether you're exploring tokenisation for the first time or seeking to optimise an existing virtual card strategy, our team is here to guide you. Reach out today to learn how Stanchion's tokenisation and virtual card issuing services can streamline your payment architecture, ensure regulatory compliance and deliver the seamless experiences your customers demand.
