The Dubai Financial Services Authority (DFSA) announced that 96 firms have expressed interest in its inaugural Tokenisation Regulatory Sandbox in the Dubai International Financial Centre (DIFC). The initiative sits within the DFSA’s Innovation Testing Licence programme and is intended to let firms test tokenised financial solutions under DFSA oversight without being subject to the full set of regulatory requirements that would otherwise apply. Expressions of interest covered use cases involving the tokenisation of shares, bonds including Islamic bonds (sukuk), and units in a fund, as well as related activities such as trading and safe custody. Interest came from both established financial institutions and start-ups, and the DFSA framed the themed sandbox model as a way to enable targeted supervision, regulatory dialogue, and the development of tailored policy responses to emerging technologies. Following the expressions of interest stage, selected firms will be invited to apply for an Innovation Testing Licence and move into a live testing phase under DFSA oversight. After completing the programme, participants may apply to transition to a full, unrestricted licence or withdraw their Innovation Testing Licence.
Dubai Financial Services Authority 2025-05-12
Dubai Financial Services Authority receives 96 expressions of interest for inaugural Tokenisation Regulatory Sandbox
The Dubai Financial Services Authority announced 96 firms are interested in its inaugural Tokenisation Regulatory Sandbox in the Dubai International Financial Centre. Part of the DFSA’s Innovation Testing Licence programme, it allows firms to test tokenised financial solutions under DFSA oversight without full regulatory requirements. Interest spans tokenisation of shares, bonds, and fund units, with participation from established institutions and start-ups.