In a significant move to enhance the global commodities market, the Dubai Multi Commodities Centre (DMCC) has forged a strategic partnership with Crypto.com, a leading cryptocurrency trading platform. This collaboration aims to leverage blockchain technology to advance digital trade infrastructure and support the tokenisation of commodities.
The partnership was formalized through a Memorandum of Understanding (MoU). With this agreement, DMCC, recognized as a premier international business district and a hub for commodities trading, will work alongside Crypto.com to explore the potential of decentralized ledger technology. The focus will be on reducing settlement friction, enhancing price transparency, and broadening market access across several key sectors, including precious metals, diamonds, energy, and agricultural products.
As part of the initiative, the two organizations will evaluate the prospect of listing tokenised commodities on the Crypto.com Exchange, pending regulatory approvals and compliance with exchange listing requirements. This exploration will also address crucial aspects like custody arrangements, mechanisms for liquidity facilitation, and the integration of digital asset payments into DMCC’s digital platforms and certain member use cases.
Furthermore, Crypto.com plans to collaborate with the DMCC Crypto Centre to roll out educational and technical programs. These efforts will encompass workshops, hackathons, and various capability-building initiatives designed to enhance institutional understanding of tokenisation and foster responsible innovation within Dubai’s burgeoning Web3 ecosystem.
This partnership builds on DMCC’s previous collaborations with the Dubai Virtual Assets Regulatory Authority (VARA), aimed at advancing a secure and compliant infrastructure for integrating real-world assets into the digital economy. DMCC currently hosts over 26,000 companies spanning sectors such as energy, precious metals, diamonds, agri-commodities, and technology, creating a rich landscape for implementing blockchain solutions in trade and financial systems.
