NEWS
Coinbase establishes its tokenisation hub in Abu Dhabi
Coinbase has received a Financial Services Permission from the Financial Services Regulatory Authority( FSRA) to establish its international tokenisation hub in ADGM, the international financial centre of Abu Dhabi, the capital of the United Arab Emirates. This is the most significant step it has taken yet toward building the infrastructure for a more open, more accessible global financial system.
Coinbase has received the licence from the FSRA of ADGM, clearing it to arrange deals in investments and provide custody in order to facilitate its launch of tokenised securities. This is the foundation for its international tokenisation hub in Abu Dhabi.
Four billion people worldwide cannot access capital markets. Not because they lack the means, but because the system was never built for them. Investable opportunities are out of reach, and the cost of participation is too high. This licence is the first step toward changing that.
The tokenised securities registered and issued in ADGM are fully backed by underlying shares under the supervision of the FSRA and are verified by token holders, who receive full shareholder rights, including dividends and voting.
“ ADGM issued one of the world’ s first regulatory frameworks for virtual assets in 2018. That reflected a genuine institutional commitment to innovation-forward regulation, executed with the rigour that global financial markets require. No major financial centre has yet built a framework that treats tokenised equities simultaneously as securities, Blockchain-native tokens and DeFi-composable assets,” said Brett Tejpaul, Co-CEO of Coinbase Institutional.
Multi-million dollar fund to finance five-star hotel in Riyadh
The Sports Boulevard Development Company has signed agreements with Rikaz Properties to establish its third real estate investment fund, valued at more than US $ 186 million( SAR700 million). The fund will finance a luxury five-star hotel in Urban Wadi, a destination within the Sports Boulevard project in Riyadh, Saudi Arabia.
Saudi Arabia is developing projects across tourism, entertainment, sport and culture as part of Saudi Vision 2030. Riyadh, the country ' s capital, is home to several of these developments, including Sports Boulevard. Extending for more than 135 kilometres across the city,
Sports Boulevard will connect sports facilities, public spaces, cultural attractions and entertainment destinations. It aims to encourage active lifestyles, improve access to green spaces and support Riyadh ' s development as a more connected and liveable city.
Rikaz Properties will participate as developer and investor, while Al Jazira Capital will serve as fund manager. The hotel will be developed on a site of 13,500 square metres, with a gross floor area of 34,400 square metres, expanding Urban Wadi ' s hospitality and lifestyle offering.
Urban Wadi is a mixed-use destination within Sports Boulevard, designed to bring together sport, nature, entertainment, hospitality and community experiences.
Development within Urban Wadi follows the Sports Boulevard Code, an urban design framework inspired by Salmani architecture. The code combines Riyadh ' s architectural heritage with contemporary urban design to create places reflecting the city ' s character.
Jayne McGivern, CEO of the Sports Boulevard Foundation, with officials from Rikaz Properties and Al Jazira Capital
The fund advances Sports Boulevard ' s private-sector partnership model by creating investment opportunities, supporting economic growth and broadening experiences for residents and visitors. x
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