Mirae Asset and Ctrl Alt explore fund tokenization in UAE

Mirae Asset Global Investments, a multinational asset manager with operations in Korea and India and over $353 billion in assets under management, is tapping into the tokenization expertise of UAE-regulated Ctrl Alt to pioneer fund tokenization in the UAE. Both entities will explore how existing regulated frameworks can be used for the issuance and management of tokenized funds.

As per the press release, the collaboration will first focus on funds domiciled in the UAE, and potentially expand to other regulated financial markets in the GCC.

Both intend to establish a framework for fund tokenization that can be applied globally. Ctrl Alt will provide its end-to-end tokenization infrastructure to power the minting, issuance, and on-chain management of tokenized funds. At the same time, Mirae Asset will leverage its investment expertise and regional network to pilot these products, delivering operational efficiency and broader investor access for both institutional and retail investors.

The reason behind this collaboration is explained by Matt Ong, Founder and CEO of Ctrl Alt, who notes that there has been growing interest from established asset managers in how tokenization can be applied responsibly within existing market structures. He states, “The collaboration with Mirae Asset brings together deep institutional experience and innovative digital capital markets infrastructure, allowing us to explore how tokenized funds can deliver practical efficiencies and broader access in a regulated setting.”

Through tokenized fund structures, managers and allocators could automate various administrative tasks such as onboarding and capital calls via smart contracts, reducing operational costs while accelerating transaction lifecycles.

On the other hand, investors will be able to gain secure, streamlined access to alternative assets that were previously difficult to reach.

Swarup Mohanty, Vice Chairman and CEO of Mirae Asset Global Investments (India) Private Limited, explained that the agreement with Ctrl Alt is a commitment towards pioneering the next generation of investment products.

He adds, “Blockchain and tokenization have the power to transform capital markets, and this collaboration positions Mirae Asset at the forefront of that change as a permanent innovator.”

The Middle East digital asset market is projected to hit $600 billion by 2030, with tokenization offering liquidity for fractional ownership in high-value assets, attracting banks, family offices, and increasing investment in digital finance.

Ctrl Alt has already landed UAE governmental clients

In May 2025, UK, Ireland, and UAE-based Ctrl Alt became the tokenization partner for the Dubai Land Department (DLD) with a strategy to tokenize real estate using the XRP Ledger Blockchain. The initiative was carried out alongside VARA (Dubai’s Virtual Assets Regulatory Authority), the Dubai Future Foundation, and PRYPCO. The partners started to tokenize real estate to develop the future of property investment in Dubai through fractional ownership.

The initiative is projected to contribute to the growth of an AED 60 billion ($16 billion) tokenized real estate market by 2033, equivalent to 7% of Dubai’s total property transactions.