OKX exec warns against hype amid real-world asset tokenization boom
OKX MENA CEO Rifad Mahasneh emphasized the importance of real-world utility in the crypto industry, particularly as interest in real-world asset (RWA) tokenization grows. He noted that projects must demonstrate tangible benefits, warning against tokenizing assets that do not require it. The UAE is witnessing a surge in RWA tokenization initiatives, including a $3 billion agreement between MultiBank Group and MAG, and a pilot project by the Dubai Land Department in collaboration with the Virtual Assets Regulatory Authority. Mahasneh highlighted the role of clear regulations in encouraging institutional participation in tokenization. The UAE's Central Bank approved a stablecoin regulatory framework, enhancing institutional confidence in crypto ventures. Major players, including Tether, are entering the market with dirham-pegged stablecoins, reflecting the region's proactive regulatory approach.
