In the past week, UAE’s Dubai Multi Commodities Centre (DMCC) has signed two partnership agreements with Gold tokenization entities. DMCC signed an MOU with Asian digital gold platform, SafeGold, to develop an ecosystem in the MENA for gold backed digital certificates starting from the UAE and then spreading across MENA. The MENA region is home to a $20 billion gold market. Gold is a high-growth industry in the UAE; according to the World Gold Council, UAE gold consumption surged by 57 percent in 2021. As per the announcement Gold bars will be physically stored in secure vaults, and verified by warrants issued on DMCC’s Tradeflow platform, a transparent central registry of ownership for gold and commodities stored in UAE facilities. The digital certificates that are backed by gold can then be traded on SafeGold’s platform, providing investors with greater levels of transparency and confidence. Gaurav Mathur, Founder and MD, SafeGold, noted that the UAE is an ideal hub for a...