DMCC tokenizes 1,971kg silver bar as first asset under joint VARA framework

Dubai has tokenized the world's largest silver bar, the first commodity to be issued under a framework set jointly by the Dubai Multi Commodities Centre and the emirate's virtual asset regulator. DMCC said on Monday that eligible investors can now acquire fractional digital interests tied to the 1,971kg bar, which holds a Guinness World Records title.

The plan was first set out at DMCC's Dubai Precious Metals Conference in November 2025, when the bar was unveiled after Guinness World Records certified it. SAM Precious Metals produced the bar in the UAE from silver of 99.9 percent purity. Its weight was chosen to mark 1971, the year the United Arab Emirates was founded.

Issuance and trading

Tokinvest, a Dubai platform regulated by the Virtual Assets Regulatory Authority, is issuing the interests as an Asset-Referenced Virtual Asset. The tokens sit on BNB Chain. Regulated secondary-market trading is due to open once the initial issuance is complete, subject to regulatory and platform requirements.

The physical bar is registered and verified through DMCC Tradeflow, the centre's system for recording possession and ownership of commodities stored in UAE facilities, and is held by Brink's. Tokinvest handles the regulated issuance and distribution of the digital interests and the subsequent trading; SAM Precious Metals manufactured the underlying asset. The tokens are tied to that one identified bar rather than to a general pool of metal.

Ahmed Bin Sulayem, DMCC's executive chairman and chief executive, said the ambition set out at the November conference was "to take it from a physical record into a practical example of commodity tokenization", with the DMCC-VARA framework as the roadmap. The launch, he said, shows Dubai can connect established commodities infrastructure with digital technology and specialist expertise, opening a route for real-world assets into the digital economy while keeping a clear link to the physical commodity.

to take it from a physical record into a practical example of commodity tokenization

Paul Boots, senior director and head of sector development at VARA, called the silver bar ARVA "an important milestone as the first tokenized commodity asset issued under the DMCC-VARA framework". It shows, he said, how commodities infrastructure, regulated virtual asset issuance, institutional custody and blockchain technology can be combined into a practical, investable product.

Beyond the bar

DMCC counts more than 1,500 companies operating in gold and precious metals, supported by trading, storage, finance and ownership-registration services. Its technology ecosystem numbers over 4,000 companies, including more than 750 members of the DMCC Crypto Centre.

A separate initiative, DMCC FinX, is developing opportunities in digital trade, tokenized real-world assets and next-generation trade finance. The two clusters are meant to link established commodities markets with new sources of capital and digital infrastructure.