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MultiBank Group Signs $3 Billion Tokenization Agreement with MAG as it Prepares to Launch $MBG
By: bitcoin ethereum news|2025/05/07 04:45:01
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Disclaimer: The below article is sponsored, and the views in it do not represent those of ZyCrypto. Readers should conduct independent research before taking any actions related to the project mentioned in this piece. This article should not be regarded as investment advice. In a significant development poised to reshape digifi, MultiBank Group, recognized as the world’s largest derivatives provider, has launched a groundbreaking partnership to tokenize $3 billion worth of real estate assets. MultiBank Group has partnered with UAE-based developer MAG Lifestyle Development and blockchain technology firm Mavryk, marking what is believed to be the largest real-world asset (RWA) tokenization project ever undertaken. The partnership will involve converting high-value properties from MAG into blockchain-based digital assets. These include the Ritz-Carlton Residences, Dubai, Creekside, which is part of the Keturah Resort, and Keturah Reserve. These assets will become accessible to traders worldwide through a regulated RWA marketplace operated by MultiBank.io, offering daily yield distributions upon launch. At the heart of this venture lies the $MBG utility token, which will serve as the core mechanism for accessing platform features, including staking, transaction fees, governance participation, and overall user engagement within MultiBank’s evolving digifi ecosystem. Each company will take on a distinct and essential role as part of the partnership. MAG Lifestyle Development will offer its collection of high-value real estate properties to be converted into digital assets on the blockchain, making exclusive property more accessible to a wider range. Mavryk will supply the underlying Layer-1 blockchain technology required to safely tokenize these assets and connect them with DeFi systems. On the other hand, MultiBank Group will handle regulatory compliance and supervise platform governance. The platform will also be responsible for maintaining liquidity in the secondary market. The versatile features of the $MBG token will reportedly facilitate all this. Commenting on the partnership, Zak Taher, Founder and CEO of MultiBank.io, stated: “This initiative represents a critical step toward the future of finance. By bringing $3 billion in premium real estate assets onto the blockchain, we are building a direct link between traditional markets and Web3. This is where institutional-grade digital begins.” Talal Al Gaddah, Senior Executive Vice Chairman of MAG, noted that innovation has long been a driving force behind the company’s approach to real estate development. He added that this partnership marks a turning point in how traders can gain access to high-value properties while maintaining the transparency and quality MAG is known for. Alex Davis, Founder and CEO of Mavryk, emphasized that the firm’s scalable blockchain architecture enables landmark developments to become borderless vehicles, supporting the creation of a more transparent and globally inclusive system. MultiBank has introduced a token buyback-and-burn program funded by platform-generated revenues to promote ongoing engagement and value retention. Staking incentives are also being rolled out to encourage users to hold and actively participate in the ecosystem. Holders of $MBG will benefit from reduced fees, VIP status, exclusive access to new projects, and diversified exposure to tokenized real-world assets. Significantly, although the project’s initial stage includes $3 billion worth of real estate assets, the platform has been built to accommodate a total asset value of up to $10 billion. As the real estate division of the UAE-based MAG Group, MAG Lifestyle Development has made a name for itself. It serves a global conglomerate with over 46 years of experience in diverse industries. Since launching in 2003, MAG has delivered luxury residential towers, master-planned communities, and wellness-centric living environments that set new standards for urban lifestyle experiences in the region. Established in California in 2005, MultiBank Group has become one of the most influential names in global derivatives. With a client base exceeding two million across 100 countries, the group offers trading services in Forex, commodities, indices, equities, and cryptocurrencies. Regulated by 17 top-tier authorities, it processes over $35 billion in average daily trading volume during peak periods. It has received more than 70 international awards recognizing its excellence and compliance standards. Mavryk is an advanced Layer-1 blockchain platform engineered for scalability, security, and cross-chain interoperability. Mavryk aims to bridge the gap between tradfi and blockchain by providing institutions and individual players with the infrastructure to tokenize and trade physical assets in a trustless environment. The platform is specifically built to enable tokenizing real-world assets and support DeFi applications. Source: https://zycrypto.com/multibank-group-signs-3-billion-tokenization-agreement-with-mag-as-it-prepares-to-launch-mbg/
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