The digital asset infrastructure provider plans to establish a presence in the United Arab Emirates (UAE) and the region’s housing sector as tokenization gains global steam.
Taurus, a Swiss-based crypto company, announced a new office in the UAE geared towards tapping a growing narrative around tokenized real-world assets (RWAs) and an expected boom within Dubai’s real estate market.
Besides its reputation as a global investment hotspot, experts expect a 15% growth in Dubai’s housing industry during 2024, said Taurus managing director Bashir Kazour.
Kazour stressed that Dubai’s inflow of foreign investment and its clear crypto regulations mean that the region is a prime location for tokenization to take root. Taurus opening an office in the UAE signals the firm’s strategic positioning to leverage emerging digital asset trends, the director added in an email seen by crypto.news.
Taurus is well-known for its unique custody and tokenization capabilities serving banking clients and large enterprises, which aligns perfectly with the needs of the region. We’ve already started interacting closely with regulators, central banks, and clients and I’m looking forward to delivering cutting-edge and compliant solutions to the market.
Bashir Kazour, Taurus managing director
Tokenization and RWAs on blockchain ledgers have garnered attention amid an upturn in crypto sentiment. The industry’s total RWA market cap surpassed $1 billion per Coingecko as protocols like Maple and Pendle Finance saw gains during a broader price rally for cryptocurrencies.
America’s largest crypto exchange Coinbase foresees tokenization as an important part of the digital asset industry by 2025 and beyond. Indeed, traditional banking giants like JPMorgan have launched tokenization platforms and even partnered with governments in Singapore for blockchain-powered initiatives.