The Dubai Multi Commodities Centre (DMCC) has partnered stablecoin giant Tether to collaborate on blockchain and tokenization exploration. The partnership, that was announced on Tuesday, will lay focus on designing educational initiatives around blockchain technologies for Dubai’s tech and industrial sectors.
The DMCC, established in 2002, serves as a global marketplace and free zone for commodities trade in Dubai. At present the free zone manages a cluster of over 26,000 companies, roping in 15 percent of Dubai’s foreign direct investment.
The DMCC has now signed a Memorandum of Understanding (MoU) with Tether to invite assistance in scaling Dubai’s tokenization efforts and digital infrastructure revamp. Under the partnership, Tether has been asked to organize blockchain advisory sessions, tokenization initiatives, and pilot programmes to accelerate the use of digital assets for DMCC-based companies.
Paolo Ardoino, the CEO of Tether, said the company is charged to expand its presence in UAE’s thriving economic ecosystem.
“The UAE is actively shaping how digital asset infrastructure is used across global markets and integrated into real economic activity,” Ardoino said. “Through our collaboration with DMCC we aim to accelerate the practical use of blockchain. Our goal is to support the development of RWAs, tools, and frameworks that expand participation in digital markets.”
Back in May 2021, the DMCC launched its Crypto Centre as a business hub aimed at giving crypto and Web3 firms a space to operate out of in Dubai. Companies setting up a presence within the DMCC, the free zone helps crypto firms obtain the necessary Web3 license as well as state-of-the-art work sopaces for companies of all sizes.
As per official figures shared by the DMCC in 2024, over 600 crypto companies including Bybit, Solana and TDeFi are already registered for business in the free zone. The DMCC claims that it holds the largest concentration of Web3 companies in the region.
“Global trade is entering a new era where financial infrastructure, payments and asset ownership are increasingly moving onto digital rails. Tokenisation is beginning to reshape how real-world assets are financed and transferred across borders. Through our agreement with Tether, we will explore new avenues for collaboration across blockchain infrastructure, digital payments and tokenisation,” said Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC.
Experiments on the tokenization of real assets started to pick pace in Dubai last year. In March 2025, the Dubai Land Department (DLD) launched the pilot phase of its “Real Estate Tokenisation Project” to convert the ownership pf physical properties into blockchain-based digital tokens. The DLD projects that the value of tokenised properties could touch AED 60 billion by 2033.
The rapid influx of AI into the existing crypto sector has also caught the eye of the UAE authorities as well.
Just last week, Dubai’s Crown Prince Sheikh Hamdan directed the Committee of the Future Technology Development and the Digital Economy to infuse agentic AI across Dubai’s industrial ecosystem by 2028. The Emirate wishes to introduce AI to over 295,000 companies with over a hundred agentic AI solutions.
