PRYPCO Mint Wins VARA Category 1 Licence to Issue Asset-Referenced Tokens
Dubai's Virtual Assets Regulatory Authority authorises the real estate tokenization platform to issue virtual assets tied to real-world holdings.
PRYPCO Mint, the real estate tokenization arm of Dubai's PRYPCO, has secured a Category 1 licence covering virtual asset issuance from the emirate's Virtual Assets Regulatory Authority. The company announced the approval on Monday. The licence allows the platform to issue regulated virtual assets backed by real-world assets.
The authorisation tightens the link between regulated digital asset infrastructure and real-world ownership, and it backs the continued growth of tokenized assets in Dubai. PRYPCO Mint says it will scale issuance of tokenized real-world assets under VARA's framework.
Founder calls approval a defining moment
Amira Sajwani, PRYPCO's founder and chief executive, called the licence a defining moment for PRYPCO Mint and for real-world asset tokenization in the region. She said a Category 1 issuance approval puts the platform in a very small group of firms allowed to issue asset-referenced virtual assets in Dubai.
The company frames the approval as evidence of Dubai's standing as a hub for tokenized real-world assets, pointing to a regulatory environment it says draws innovators, investors and institutions from around the world.
Sajwani argues that regulation becomes the deciding differentiator as tokenization shifts from concept to infrastructure. The licence, she said, lets PRYPCO build for the long term, broaden access to high-quality real-world assets and help shape regulated digital ownership from Dubai.
Property platform built with the Dubai Land Department
PRYPCO Mint launched its tokenized property platform through a partnership with the Dubai Land Department. The wider group runs PRYPCO Blocks, a fractional property investment platform; PRYPCO Mortgage, a digital home financing business in the UAE; and PRYPCO One, a platform for real estate agents.
In January, PRYPCO signed an agreement with Georgia's Ministry of Justice to build a regulated framework for real estate tokenization, supporting the country's push to modernize its property and legal systems.
Issuance approval matters because it governs the point where a token is created and tied to an underlying asset, the stage where investor-protection questions concentrate. A platform that can issue under supervision can reach institutional buyers that unregulated structures cannot, without moving the underlying property rights offshore.
Sajwani jointly ranked 64th with Ali Sajwani on a 2026 ranking of the region's top 100 chief executives.
