Dubai free zone DMCC has unveiled the world’s largest silver bar, a record-breaking 1,971 kg asset formally recognised by Guinness World Data.
The bar, revealed on the Dubai Treasured Metals Convention (DPMC), commemorates the founding yr of the UAE and displays the nation’s ambition, craftsmanship and innovation.
As a part of a landmark collaboration between DMCC and main trade gamers, the bar is now set to be tokenised via DMCC’s Tradeflow platform. It marks the primary time a Guinness World File treasured metallic bar will endure tokenisation beneath a regulated framework.
World file silver bar in Dubai
The venture brings collectively Sam Treasured Metals, the UAE-based refiner liable for producing the bar; Tokinvest, the VARA-regulated platform main the digital tokenisation and issuance course of; and Brink’s, which is able to handle safe storage and logistics.
Ahmed bin Sulayem, Govt Chairman and CEO of DMCC, stated: “The thirteenth version of the Dubai Treasured Metals Convention has been marked by new information, highlighted by the revealing of the world’s largest silver bar – a 1,971 kg, 1.3-metre-long bar that has set a Guinness World File and honours the UAE’s ambition and craftsmanship.”
He stated the initiative displays DMCC’s broader mission to attach commerce, commodities, finance and know-how, demonstrating how bodily property may be digitised and accessed via trusted and clear frameworks.
Tokenised property
Scott Thiel, Co-Founder and CEO of Tokinvest, stated: “Tokenising a Guinness-record-breaking bar of silver, weighing 1,971kg to mark the formation of the UAE, just isn’t solely an honour however a milestone for all the RWA trade.
“Treasured metals have at all times been a trusted retailer of worth, however entry has historically been restricted. This venture brings a globally important artefact into the arms of on a regular basis traders.”
Sami Abu Ahmad, Chairman of Sam Treasured Metals, stated: “Creating the world’s largest silver bar is a celebration of expertise, innovation and the UAE’s spirit of ambition. Partnering with Tokinvest and DMCC permits us to take this achievement additional – remodeling an emblem of nationwide pleasure right into a digital asset that represents the following evolution of treasured metals funding.”
DMCC laws
The venture follows DMCC’s not too long ago introduced strategic partnership with the Dubai Digital Belongings Regulatory Authority (VARA), which goals to speed up the event of safe, clear and scalable frameworks for tokenised commodities.
With greater than 1,500 corporations in its treasured metals ecosystem and over 700 Web3 and blockchain corporations in its Crypto Centre, DMCC says it’s uniquely positioned to guide the following wave of asset-backed digital devices.
