CEO @VARA | Building the future of finance and ownership with digital assets and Web3 technology | Co-founder @Clubbie
This news has caught my eye over the last week or so - it feels like an important shift in how established financial institutions are harnessing blockchain technology to redefine traditional banking. This is also something I spoke about in a recent keynote. It’s encouraging to see a leading bank enhance their infrastructure using tokenisation and smart contracts. This is a clear indication of how traditional finance is evolving to meet the demands of a digital-first world. At VARA, we're looking at this type of innovation as essential to shaping a more effective, transparent and resilient financial ecosystem. The promise of blockchain lies in its ability to streamline operations and introduce programmability across financial products. DBS's efforts not only demonstrate the practical application of blockchain in enhancing liquidity management and governance controls, but also highlight a trend we’re seeing globally - the convergence of traditional finance with decentralised technologies. The real challenge, however, extends beyond integrating these technologies in my opinion. As financial institutions venture further into digital finance, the emphasis on regulatory oversight and enablement becomes even more critical. It's one thing to enable real-time, cross-border transactions, but ensuring compliance, security, and ethical use of these tools will determine long-term success. The broader implications for the virtual asset sector are profound. Projects like DBS Token Services and initiatives such as Hong Kong's e-HKD Pilot program, as well as the UAE's own CBDC activities signal a growing interest in exploring programmable money and asset tokenisation. These aren't just experimental pilots; they are paving the way for what could become the new standard in digital finance. Dubai is uniquely positioned to lead in this space, with our ongoing efforts to build a comprehensive regulatory environment that enables the complexities of modern financial innovation. We recognise the need to balance technological advancements with proactive regulatory measures that ensure these innovations deliver meaningful value without compromising on trust or transparency. As blockchain continues to mature, the question remains - How can regulators, financial institutions, and innovators collaborate to shape a truly borderless digital economy that balances innovation with security? This is a conversation we are keen to lead on at VARA. #Blockchain #Innovation #DBS #VARA #Dubai #ESG
Vinod Rao
1mo
A great way to get all 3(innovator/entrepreneur, FIs and regulator) to collaborate is on ecosystem platforms like DIFC, ADGM. Getting the regulator in the sandbox asap helps deploy digital solutions faster. Constant growth and the occasional hypergrowth will require the regulator to be as hyper-agile as the industry they are in.
Khurram Shaikh
1mo
A much needed service where we 2 customers can directly acquire digital assets from their bank accounts without needing to interact with any smart contract. Will reduce complexity and save fees.
Taran D.
1mo
👏
Tim Popplewell
1mo
Thanks for sharing Matthew White. We are having an increasing number of meaningful conversations on this and closely related topics, with organizations looking to see how Dubai can help facilitate the necessary updating or removal of antiquated global processes. Exciting times ahead.
Abhilash Misra
1mo
Thanks for sharing Matthew White
"The four most dangerous words in investing are: 'This time it’s different.'" - Sir John Templeton. He was talking about the dangerous allure of FOMO (Fear of Missing Out). We've all felt it - that boa-constrictor of emotion that over-rules logic. It’s an age-old pattern: the more we buy in, the higher the market goes, and soon, bubbles form. And when they burst—the dot-com crash that wiped $5 trillion from the Nasdaq or the crypto implosion costing investors $2 trillion— it hurts. But looking at the evolution of tokenisation, there’s reason to feel a cautious optimism that this time could indeed be different. Tokenisation isn’t just another hype cycle; it’s steadily being woven into the very fabric of financial services to drive real efficiencies and unlock new opportunities. We’re seeing early adopters like DBS Bank harnessing tokenisation not as a speculative asset, but as a tool for transparency, efficiency, and accessibility in financial transactions. Yes, still early days. But with practical, real-world use cases that generate trust and confidence, and backed by real-world assets, this time it might just be different. TY Matthew WhiteVirtual Assets Regulatory Authority [VARA] #RWA #Tokenisation