Dubai’s DMCC and VARA Unite to Tokenize Gold and Diamonds on Blockchain

According to the announcement by DMCC, the collaboration will create the technical and regulatory foundations needed to integrate physical assets such as gold and diamonds into blockchain-powered systems. This development represents a pivotal moment in Dubai’s long-term vision to position itself as a global leader in digital finance and tokenised asset innovation.

Bringing together DMCC’s deep expertise in commodities trading and VARA’s advanced regulatory framework, the initiative will launch pilot projects, education programs, and data-driven analysis designed to accelerate the adoption of tokenized commodities, assets that combine real-world value with the efficiency and transparency of blockchain technology.

The partnership underscores Dubai’s status as one of the world’s most proactive jurisdictions for digital assets, building on DMCC’s track record of innovation and VARA’s mandate to supervise the virtual asset ecosystem with high standards of integrity and investor protection. Together, the two institutions will develop models that make commodity tokenization practical, investable, and globally credible.

Pilot programs will be conducted to explore how gold, diamonds, and other tangible commodities can be securely tokenized and traded via blockchain infrastructure. These initiatives will test both the technical design and regulatory implications, ensuring that future tokenized instruments meet the same standards of trust and auditability as traditional commodities markets.

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC, emphasized that the partnership with VARA marks a major milestone in Dubai’s expanding digital-asset ecosystem. He said: "Partnering with VARA is a pivotal step in the evolution of Dubai’s digital-asset landscape. By combining VARA’s world-class regulatory oversight with DMCC’s 26,000-member community and unmatched expertise in commodities, blockchain and Web3, we are creating a secure, scalable framework to tokenise assets such as gold, diamonds and other high-value commodities. In doing so, we will unlock a new era of real-world, investable products that expand global market access, enhance liquidity and trust, and cement Dubai’s position at the forefront of trade and blockchain innovation."

Beyond technical pilots, the agreement places strong emphasis on education and public awareness. DMCC and VARA will jointly deliver workshops, seminars, and institutional training sessions to improve understanding of tokenization, including its potential benefits, risks, and regulatory safeguards. This focus on investor education is essential for ensuring that innovation develops responsibly. By increasing transparency and understanding, the initiative aims to strengthen market resilience and public trust in emerging digital asset products.

Matthew White, Chief Executive Officer of VARA, highlighted the significance of the collaboration as a key milestone in Dubai’s ongoing efforts to merge innovation with global commerce. He said: "Dubai has long been where global trade meets global innovation and tokenization is the next chapter in that story. By working with DMCC, we are bringing together deep commodities expertise with regulatory foresight to create a framework that can turn tokenized assets from concept into trusted market infrastructure. This is not about experimenting at the edges; it is about setting global benchmarks for how physical and digital markets converge. Our role at VARA is to ensure that as these new products emerge, they do so in a way that is safe, transparent, and credible, reinforcing Dubai’s position as a leader in shaping the future of finance and trade."

The partnership also establishes collaboration on aggregated data sharing, sector growth analysis, and economic impact reporting. Under the agreement, DMCC will contribute its market benchmarks and analytics to help inform VARA’s regulatory decisions, promoting evidence-based policymaking that encourages innovation while maintaining market integrity.

The integration of these datasets will enable regulators and industry participants to monitor the performance and impact of tokenized commodities, helping to shape responsible and scalable adoption frameworks that can serve as international models. DMCC’s prior initiatives, including the Tradeflow platform, which enables the creation of gold-backed digital assets, provide a strong foundation for this next phase. With more than 1,500 companies operating in the gold and precious metals sector and over 700 Web3 and blockchain firms based in its Crypto Centre, DMCC is uniquely positioned to drive the institutionalization of tokenized real-world assets (RWAs).

DMCC’s Crypto Centre recorded 38% year-on-year growth in registered crypto companies, solidifying its reputation as the region’s premier Web3 hub. The Centre has become a magnet for startups, developers, and established blockchain enterprises seeking a regulated environment aligned with international best practices. Currently, DMCC’s operations account for approximately 15% of Dubai’s total foreign direct investment (FDI) and contribute 7% of the emirate’s GDP, according to the official release. The partnership with VARA is therefore not only a technological milestone but also a strategic economic catalyst designed to reinforce Dubai’s status as a global destination for innovation, trade, and digital asset infrastructure.

As DMCC and VARA move forward with pilot programmes, the partnership could become a blueprint for other jurisdictions seeking to regulate or integrate tokenized real-world assets into their economies. By aligning technical innovation with rigorous governance and public education, Dubai is once again demonstrating how regulatory foresight and market expertise can converge to define the future of digital trade. This collaboration represents more than a local milestone, it signals a broader shift toward the mainstream institutionalization of blockchain technology in global commodities markets.