Dubai Unveils $3B World’s Largest RWA Tokenization: MAG, MultiBank, Mavryk

The initiative, revealed during TOKEN2049 Dubai, will tokenize MAG’s flagship developments, including The Ritz-Carlton Residences, Dubai, Creekside and Keturah Reserve on the regulated RWA marketplace MultiBank.io. The marketplace, part of the MultiBank Group ecosystem, will serve as the trading platform for fractionalized property-backed digital assets.

The infrastructure enabling this tokenization is built on Mavryk Dynamics’ custom Layer-1 blockchain, specifically designed for RWA integrations and decentralized finance applications. This venture also marks the official debut of MultiBank’s utility token, MBG, which will power ecosystem functionalities including transaction fees, staking rewards, VIP access, and platform governance.

At its core, the initiative aims to democratize access to luxury real estate, traditionally one of the most illiquid and exclusive asset classes. Through tokenization, high-value properties like the Ritz-Carlton Residences can be digitally divided into blockchain-based tokens, each representing a fractional ownership stake. These tokens will be tradeable on MultiBank.io and usable as collateral within the MultiBank derivatives ecosystem.

MAG, chaired by UAE business magnate Talal Moafaq Al Gaddah, is one of the Gulf region’s most prominent real estate developers. The inclusion of its premium assets in this initiative adds both credibility and investor appeal to the project.

Mavryk Dynamics brings the technological foundation to the table, offering a purpose-built blockchain that streamlines the tokenization of real-world assets. Earlier this year, Mavryk raised over $5 million from venture capital firms including Ghaf Capital, MetaVest Capital, and Big Brain to support its development of decentralized RWA protocols.

Unlike generalized blockchain networks, Mavryk offers RWA-specific features such as an on-chain protocol treasury, a native token standard for real-world assets, and modular decentralized exchanges for non-custodial trading and lending.

The MBG token, issued by MultiBank.io, is designed to integrate seamlessly into the broader ecosystem. Users can stake MBG for yield, receive transaction fee rebates, and gain VIP status within the trading platform. A portion of revenue generated through tokenized asset sales and trading fees will be used in a buyback-and-burn mechanism, adding deflationary pressure to the MBG token’s supply over time.

This token-centric ecosystem echoes the increasingly popular "real yield" model in DeFi, where tokens derive their value from actual economic activity rather than inflationary emissions.

Unlike earlier tokenization attempts that faltered due to regulatory ambiguity, the MultiBank-MAG-Mavryk partnership is being launched with a clear compliance-first strategy. MultiBank.io operates under a suite of licenses and regulatory approvals spanning the UAE, Europe, and Latin America, including oversight from the Dubai Virtual Assets Regulatory Authority (VARA).

This regulatory posture ensures that tokenized real estate assets issued on the platform will be fully compliant with KYC/AML requirements, enabling institutional participation at scale.

The tokenization of real-world assets is fast becoming one of the most promising trends in digital finance. According to a 2023 Boston Consulting Group (BCG) and digital exchange ADDX Report, tokenized RWA markets could reach $16 trillion by 2030, with real estate, commodities, and equities leading the charge.

Already, firms like BlackRock, Franklin Templeton, and JPMorgan have begun experimenting with tokenized funds and assets. However, the $3 billion figure in this deal makes it one of the largest single RWA tokenization efforts to date.

As the first tokens are expected to go live in the second half of 2025, eyes will be on the MultiBank.io platform to deliver a user-friendly and legally robust experience for global investors. For MAG, the move offers new channels for international property sales. For Mavryk, it's a flagship deployment of its blockchain infrastructure. And for MultiBank, it cements its transition from traditional finance into Web3.

If successful, the venture could become a model for asset tokenization at scale, influencing everything from mortgage financing to sovereign real estate funds.