World’s largest silver bar unveiled in Dubai
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The Dubai Multi Commodities Centre (DMCC) has introduced the world’s largest silver bar in celebration of the founding of the United Arab Emirates.The bullion — weighing 1,971 kilograms and measuring 1.3 metres long — has set a Guinness World Record, and it serves as a symbol of the UAE’s national ambition, craftsmanship and innovation, DMCC said in a press release.As part of a landmark project involving DMCC and leading industry players, the bar is now set to be tokenized through DMCC’s Tradeflow platform, marking the first time a Guinness-recognized metal bar will undergo tokenization under a regulated framework.The initiative follows DMCC’s recently announced strategic partnership with the Dubai Virtual Assets Regulatory Authority (VARA), designed to accelerate the development of secure, transparent and scalable frameworks for tokenized commodities.The tokenization project brings together UAE-based precious metals refiner Sam Precious Metals, responsible for the bar’s production; Tokinvest, a VARA-regulated platform leading the digital tokenization and issuance process; and Brink’s, which will oversee secure storage and logistics.This world-first initiative forms a key milestone in DMCC’s expanding program to advance commodities tokenization and enhance transparency, traceability and legal certainty across global precious metals markets.Tokinvest will register the asset on DMCC Tradeflow, the UAE’s leading online system for registering and pledging commodities – ensuring robust oversight and a trusted environment for fractional ownership, subject to regulatory approvals.“This initiative reflects DMCC’s broader mission to connect trade, commodities, finance and technology, demonstrating how physical assets can be digitized and accessed through trusted and transparent frameworks,” Ahmed Bin Sulayem, executive chairman and CEO of DMCC, stated.“As we accelerate our tokenization program with key partners including VARA, Sam Precious Metals, Tokinvest and Brink’s, projects like this reinforce Dubai’s position as the global benchmark for practical, investable and regulated real-world asset innovation,” he added.Under its partnership with VARA, the parties will advance pilot projects across gold, diamonds and other physical assets; enhancing investor education and market awareness; and collaborating on data sharing and sector analysis to inform future regulatory policy.“Dubai continues to show the world what regulated innovation looks like. Tokenizing a Guinness-record-breaking bar of silver, weighing 1,971 kg to mark the formation of the UAE, is not only an honour but a milestone for the entire RWA industry,” said Scott Thiel, co-founder and CEO of Tokinvest.The silver bar was unveiled at the 13th Dubai Precious Metals Conference earlier this week.Weiter zum vollständigen Artikel bei Mining.com
Quelle: Mining.com