As tokenization gathers traction globally, Taurus intends to build a position in the housing sector of the United Arab Emirates (UAE).
The Swiss cryptocurrency startup Taurus has opened a new office in the United Arab Emirates, hoping to capitalize on the expanding discourse surrounding tokenized real-world assets (RWAs) and the anticipated rise in Dubai’s real estate sector.
In addition to its standing as a popular destination for foreign investment, experts predict that Dubai’s housing market will expand by 15% by 2024, according to Taurus Managing Director Bashir Kazour.
Kazour emphasized that the region is ideal for tokenization because of Dubai’s influx of foreign investment and transparent crypto legislation. Taurus opening an office in the UAE signals the firm’s strategic positioning to leverage emerging digital asset trends, the director continued in an email.
“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” according to Taurus managing director Bashir Kazour.
Tokenization and RWAs on blockchain ledgers have drawn interest during a resurgence in cryptocurrency sentiment. A larger cryptocurrency price rally saw protocols like Maple and Pendle Finance see gains, pushing the industry’s overall RWA market cap over $1 billion according Coingecko.
By 2025 and beyond, tokenization is expected to play a significant role in the digital asset market, according to Coinbase, the biggest cryptocurrency exchange in the United States.
Established financial behemoths such as JPMorgan have introduced tokenization systems and collaborated with Singaporean authorities on blockchain-driven projects.
