The Dubai Financial Services Authority (DFSA) has launched the Tokenisation Regulatory Sandbox.
The Dubai Financial Services Authority (DFSA) has launched the Tokenisation Regulatory Sandbox. The initiative will see companies able to apply for the Innovation Testing Licence program which includes the sandbox feature. The program provides a framework and a defined process for transitioning from testing stages to full authorisation.
Accordingly, all firms that are planning to launch tokenized investment products or services will need to apply to the program. Meanwhile, organizations that submit their applications will get procedural support and assistance in setting up the testing. The EOI submission process for companies will run from March 17, 2025 to April 24, 2025.
The program comes amid an increasing interest in new financial technologies and systems. The DFSA is also known for its role in regulating financial services in Dubai International Financial Centre (DIFC). The DIFC has become a hub for fintech and blockchain startups and firms.
Recently, the DIFC unveiled plans to launch its own Centre for Digital Economy. The initiative is focused on supporting the development of Web 3.0 technologies.
Moreover, the DIFC is ranked as one of the top financial centres in the world. The financial hub is currently ranked 12th in the world and fourth in terms of impact in the Global Financial Centres Index 84.
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