The abu dhabi security Exchange (ADX) said Thursday that he is preparing to list the first obligation based on blockchain in the Middle East and North Africa (MENA) Region, a movement that signals a growing momentum behind token finance in the region.
Setted by the First Abu Dhabi Bank (Fab) Using the Bank Bank HSBC Orion’s digital asset emission platform, the obligation will be recorded and negotiated on the technology of the large distributed book, the press release said. This means that investors will be able to buy and maintain the obligation directly on blockchain rails, potentially accelerate settlement times, reduce the risk of counterparty and improve transparency.
The obligation will be accessible to global institutional investors via the main securities settlement systems, including Euroclear, Clearstream and Hong Kong’s Central Moneymarkets.
The show is part of Abu Dhabi’s wider strategy to play a key role in the tokenization of active world (Rwa) such as obligations, real funds or succession, a red heated trend that has captured the attention of large banks and asset managers. The Rwa tokenized market could reach billions of dollars in the coming years, several Ripple, BCG, McKinsey and Standard Chartered reports.
“This initiative is not only expanding access to digital instruments of institutional quality, but also lays the basics of a wider class of tokenized assets – including
Green bonds, Sukuk [Islamic bond] And real estate products, “said ADX Group CEO Abdulla Salem Alnuaimimi in a press release.
“It strengthens Abu Dhabi’s position as a leading global financial center,” he added.
Read more: ADGM and partner Abu Dhabi and Chainlink to develop compliant tokenization frames
