PRYPCO Mint, a real estate tokenization platform in Dubai, says it has obtained a Category 1 Virtual Asset (VA) Issuance Licence from the Dubai Virtual Assets Regulatory Authority (VARA). The company announced the approval on 2 November 2026.
In the statement, PRYPCO Mint said the licence authorises it to issue asset-referenced virtual assets (ARVAs) that are backed by real-world assets, and that it makes the firm one of only three companies in Dubai authorised to issue ARVAs under VARAโs framework.
PRYPCO Mint also linked the regulatory approval to its tokenized real estate business, saying it launched a tokenized property platform in partnership with the Dubai Land Department (DLD). The company claimed the platform has attracted investors from more than 50 nationalities.
Regulatory milestone for tokenized real-world assets
According to PRYPCO Mint, the Category 1 licence is intended to strengthen what it describes as its regulated digital-asset infrastructure for tokenized ownership opportunities. The company said operating under VARAโs regulations positions it to scale issuance of tokenized real-world assets in a fully regulated environment.
PRYPCO Mintโs founder and CEO Amira Sajwani said the approval is โa defining momentโ for the company and for real-world asset tokenization in the region. She added that receiving a Category 1 VA Issuance Licence places PRYPCO Mint among a small group authorised to issue asset-referenced virtual assets in Dubai, and that it provides a โregulatory foundationโ she said is needed to scale tokenization responsibly and attract institutional participation.
She also said the licence would enable the company to develop new tokenized investment products while maintaining compliance with Dubaiโs evolving virtual asset regulations, and that regulation is expected to become a differentiator as tokenization moves from concept to infrastructure.
What the licence allows
PRYPCO Mint said the Category 1 VA Issuance Licence allows it to issue regulated ARVAs, describing ARVAs as the legal and regulatory structure underpinning tokenized real-world assets such as real estate. The company said the approval expands its ability to create tokenized investment products without stepping outside VARAโs rules.
Dubaiโs tokenized assets push
In its statement, PRYPCO Mint said the licence reflects Dubaiโs growing role as a hub for tokenized real-world assets, supported by what it characterised as a progressive regulatory environment.
The announcement did not provide further details on specific offerings to be launched under the licence. A corporate disclaimer attached to the release stated that the content is not an offer to buy or sell virtual assets and noted that virtual assets are subject to market fluctuations, with investors potentially losing value. The company also said its products and services have been approved by PRYPCO Mintโs Shariah Supervisory Board.
